EASTMAN KODAK CO

Previous wording

Forward–looking statements include statements concerning Kodak’s plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. When used in this document, the words “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” “predicts,” “forecasts,” “strategy,” “continues,” “goals,” “targets” or future or conditional verbs, such as “will,” “should,” “could,” or “may,” and similar words and expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward–looking statements. All forward–looking statements, including management’s examination of historical operating trends and data, are based upon Kodak’s current expectations and assumptions. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results or outcomes, or timing of actual results or outcomes, to differ materially from historical results or those expressed in or implied by such forward-looking statements. Important factors that could cause actual events, results or outcomes, or their timing, to differ materially from the forward-looking statements include, among others, the risks and uncertainties described in more detail in the Company’s Annual Report on Form 10‑K for the year ended December 31, 2025 (“2025 Form 10-K”) under the headings “Business,” “Risk Factors,” “Legal Proceedings,” and/or “Management’s Discussion and Analysis of Financial Condition and Results of Operations–Liquidity and Capital Resources,” in the corresponding sections of this report on Form 10‑Q and in other filings the Company makes with the SEC from time to time, as well as the following:

Current wording

Forward–looking statements include statements concerning Kodak’s plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. When used in this document, the words “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” “predicts,” “forecasts,” “strategy,” “continues,” “goals,” “targets” or future or conditional verbs, such as “will,” “should,” “could,” or “may,” and similar words and expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward–looking statements. All forward–looking statements, including management’s examination of historical operating trends and data, are based upon Kodak’s current expectations and assumptions. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results or outcomes, or timing of actual results or outcomes, to differ materially from historical results or those expressed in or implied by such forward-looking statements. Important factors that could cause actual events, results or outcomes, or their timing, to differ materially from the forward-looking statements include, among others, the risks and uncertainties described in more detail in the Company’s Annual Report on Form 10‑K for the year ended December 31, 2025 (“2025 Form 10-K”) under the headings “Business,” “Risk Factors,” “Legal Proceedings,” and/or “Management’s Discussion and Analysis of Financial Condition and Results of Operations–Liquidity and Capital Resources,” in the corresponding sections of this report on Form 10‑Q and the Company’s quarterly report on Form 10‐Q for the quarter ended March 31, 2026, and in other filings the Company makes with the SEC from time to time, as well as the following:

Previous wording

The impact of the global economic environment, including geopolitical issues, inflationary pressures, changes in trade policies, including tariffs or other trade restrictions or the threat of such actions, medical epidemics and Kodak’s ability to effectively mitigate or recoup the associated increased costs of aluminum, silver and other raw materials, energy, labor, shipping, delays in shipment and production times, and fluctuations in demand;

Current wording

The impact of the global economic environment, including geopolitical issues, inflationary pressures, changes in trade policies, including tariffs or other trade restrictions or the threat of such actions, medical epidemics and Kodak’s ability to effectively mitigate or recoup any associated increased costs of aluminum, silver and other raw materials, energy, labor, shipping, delays in shipment and production time and manage any associated fluctuations in demand;

Previous wording

The performance by third parties of their obligations to supply products, components or services to Kodak and Kodak’s ability to address supply chain disruptions and continue to obtain raw materials and components available from single or limited sources of supply, which may be adversely affected by geopolitical issues, changes in trade policies, including tariffs or other trade restrictions or the threat of such actions, and commodity supply constraints;

Current wording

The performance by third parties of their obligations to supply products, components or services to Kodak and Kodak’s ability to address supply chain disruptions and continue to obtain raw materials and components available from single or limited sources of supply, which may be adversely affected by geopolitical issues, changes in trade policies, including tariffs or other trade restrictions or the threat of such actions, intellectual property rights and commodity supply constraints;

Previous wording

Consolidated revenues in the three months ended March 31, 2026 were $265 million, an increase of$18 million (7%) when compared to thethree months ended March 31, 2025. Currency fluctuations had a favorable impact on revenues ($7 million) in the three months ended March 31, 2026 compared to the three months ended March 31, 2025.

Current wording

Consolidated revenues in the three and six months ended June 30, 2026 were $311 million and $576 million, respectively, increases of$48 million (18%) and $66 million (13%), respectively, compared to the prior year quarter and year-to-date period. Currency fluctuations had no material impact on revenues in the three months ended June 30, 2026 compared to the three months ended June 30, 2025 and a favorable impact on revenues ($7 million) in the six months ended June 30, 2026 compared to the six months ended June 30, 2025.

Previous wording

Print revenues in the three months ended March 31, 2026 were $180 million, an increase of$15 million (9%) compared to the prior year quarter. Print revenues accounted for 68% of Kodak’s total revenues for the three months ended March 31, 2026. Advanced Materials and Chemicals revenues in the three months ended March 31, 2026 were $76 million, an increase of $2 million (3%) compared to the prior year quarter.

Current wording

Print revenues in the three and six months ended June 30, 2026 were $195 million and $375 million, respectively, increases of$17 million (10%) and $32 million (9%), respectively, compared to the prior year quarter and year-to-date period. Print revenues accounted for 63% and 65% of Kodak’s total revenues for the three and six months ended June 30, 2026, respectively. Advanced Materials and Chemicals revenues in the three and six months ended June 30, 2026 were $105 million and $181 million, respectively, increases of $30 million (40%) and $32 million (21%) compared to the prior year quarter and year-to-date period.

Previous wording

Kodak sells and services its products globally, with more than half of sales generated outside the U.S. The macroeconomic environment remains highly volatile due to changes in trade policies, including tariffs or other trade restrictions or the threat of such actions, geopolitical conflicts, fluctuations in commodity prices, elevated inflation and on-going supply chain constraints, all of which have impacted Kodak’s operations.

Current wording

Kodak sells and services its products globally, with more than half of sales generated outside the U.S. The macroeconomic environment remains highly volatile due to changes in trade policies, including tariffs or other trade restrictions or the threat of such actions, geopolitical conflicts, fluctuations in commodity prices, elevated inflation and ongoing supply chain constraints, all of which have impacted Kodak’s operations.

Previous wording

These conditions have contributed to increased manufacturing costs, primarily due to the impact of U.S. tariffs on imported goods (including aluminum, steel and certain raw materials and component parts used in Kodak’s manufacturing and supply chain), as well as increases in commodity prices including aluminum and silver, higher labor, material, and distribution costs, and lower production volumes. The Company has implemented various pricing actions, productivity improvements, supply chain and workforce optimization initiatives and other cost savings activities. In addition, the Company has renegotiated supplier contracts and obtained certain tariff exemptions. Collectively, these actions have largely mitigated the impact of higher manufacturing costs and, as a result, did not have a material adverse effect on Kodak’s operations, financial condition or cash flows for the quarter ended March 31, 2026.

Current wording

These conditions have contributed to increased manufacturing costs, primarily due to the impact of U.S. tariffs on imported goods (including aluminum, steel and certain raw materials and component parts used in Kodak’s manufacturing and supply chain), as well as increases in commodity prices including aluminum and silver, higher labor, material, and distribution costs, and lower production volumes. The Company has implemented various pricing actions, productivity improvements, supply chain and workforce optimization initiatives and other cost savings activities. In addition, the Company has renegotiated supplier contracts and obtained certain tariff exemptions. Collectively, these actions have largely mitigated the impact of higher manufacturing costs and, as a result, did not have a material adverse effect on Kodak’s operations, financial condition or cash flows for the quarter and six month period ended June 30, 2026.

Previous wording

Kodak continues to actively monitor the developments related to tariffs to assess additional actions that may be taken to mitigate the effects of future tariff changes, including further pricing actions, additional cost reduction measures, securing alternative suppliers and evaluating potential changes to the Company’s manufacturing footprint. However, there is substantial uncertainty about the duration of existing tariffs or pauses in tariffs, tariff levels and whether additional tariffs or other retaliatory actions may be imposed, modified or suspended. Countries subject to such tariffs have imposed or may in the future impose reciprocal or retaliatory tariffs and other trade measures. These actions and the related rising political tensions could negatively impact global macroeconomic conditions and the stability of global financial markets. The ultimate impact of any tariffs is uncertain and will depend on various factors, including whether the tariffs are maintained and/or implemented, the duration of the tariffs, any exceptions or exemptions that are or may become available and the timing of their implementation, and scope, all of which could have a material adverse effect on Kodak’s business, financial condition and results of operations.

Current wording

Kodak continues to actively monitor the developments related to tariffs to assess additional actions that may be taken to mitigate the impact of future tariff changes, including further pricing actions, additional cost reduction measures, securing alternative suppliers and evaluating potential changes to the Company’s manufacturing footprint. However, there is substantial uncertainty about the duration of existing tariffs or pauses in tariffs, tariff levels and whether additional tariffs or other retaliatory actions may be imposed, modified or suspended. Countries subject to such tariffs have imposed or may in the future impose reciprocal or retaliatory tariffs and other trade measures. These actions and the related rising political tensions could negatively impact global macroeconomic conditions and the stability of global financial markets. The ultimate impact of any tariffs is uncertain and will depend on various factors, including whether the tariffs are maintained and/or implemented, the duration of the tariffs, any exceptions or exemptions that are or may become available and the timing of their implementation, and scope, all of which could have a material adverse effect on Kodak’s business, financial condition and results of operations.

Previous wording

A discussion of opportunities and challenges related to Kodak’s strategy follows:

Current wording

Kodak prioritizes opportunities focusing on strategic fit with the Company’s core competencies, ROI potential, cost and time barriers to entry, as well as the Company’s ability to build, automate and commercialize more efficiently than others. A discussion of opportunities and challenges related to Kodak’s strategy follows:

Previous wording

Print's digital plate products include traditional digital plates and KODAK SONORA Process Free Plates. SONORA Process Free Plates allow Kodak customers to skip the plate processing step prior to mounting plates on a printing press. This improvement in the printing process saves time and costs for customers. Also, SONORA Process Free Plates reduce the environmental impact of the printing process because they eliminate the use of chemicals (including solvents), water and power that is otherwise required to process a traditional plate. The segment's digital plate products are experiencing challenges from higher prices and availability of raw materials, digital substitution and competitive pricing pressures. Kodak seeks to mitigate the impact of increases in manufacturing costs through a combination of pricing actions, improved production efficiency and cost reduction initiatives. In addition, Kodak seeks to offset the impact of short-term and long-term market dynamics on pricing and volume pressures through innovations in Kodak product lines, including investing in digital print technologies.

Current wording

In traditional print, Kodak’s plate products include KODAK SONORA Process Free Plates and traditional wet plates. SONORA Process Free Plates allow Kodak customers to skip the traditional plate processing step which streamlines the workflow and saves time and costs for customers. SONORA Process Free Plates also reduce the environmental impact of the printing process because they eliminate the use of chemicals (including solvents), water and power that is otherwise required to process a traditional plate. Kodak continues to innovate in the process-free segment, introducing KODAK SONORA UltraXR Plates in May 2026 in the European market only. The Company’s plates business is experiencing challenges from higher prices and availability of raw materials, digital substitution and competitive pricing pressures. Kodak seeks to mitigate the impact of increases in manufacturing costs through a combination of pricing actions, improved production efficiency, cost reduction initiatives and government tariffs that establish a level playing field.

Previous wording

In Print's digital printing businesses, the PROSPER Inkjet Systems product offerings are expected to grow and continue to build profitability. Kodak launched the PROSPER 7000 Turbo Press in June 2022. The PROSPER 7000 Turbo Press enables commercial, publishing and newspaper printers to compete more effectively with offset and to shift more long run jobs from conventional printing processes to inkjet. Investment in the next generation technology, ULTRASTREAM, is focused on the ability to place ULTRASTREAM writing systems in Kodak branded presses and in various original equipment manufacturers in applications ranging from commercial print to packaging. In addition, Kodak officially launched the KODAK PROSPER ULTRA 520 Digital Press utilizing Kodak's ULTRASTREAM inkjet technology, which offers offset print quality in a smaller footprint.

Current wording

In the digital printing business, Kodak is investing in high-speed inkjet solutions that leverage the company’s proprietary continuous inkjet technology. The PROSPER Inkjet Systems product offerings are expected to grow and continue to build profitability. Kodak launched the industry’s fastest inkjet press, the PROSPER 7000 Turbo Press, in June 2022. The PROSPER 7000 Turbo Press enables commercial, publishing and newspaper printers to compete more effectively with offset and to shift more long-run jobs from conventional printing processes to inkjet. The KODAK PROSPER ULTRA 520 Digital Press, which utilizes Kodak's next-generation ULTRASTREAM inkjet technology, offers offset print quality in a smaller footprint. In addition, Kodak inkjet imprinting system components can be integrated with analog offset, flexographic, and gravure printing and finishing equipment as hybrid digital/analog solutions that offer high quality, high-speed variable capabilities.

Previous wording

Advanced Materials and Chemicals is using Kodak’s deep expertise in chemistry and strengths in deposition and coating processes that come from decades of experience in film manufacturing to work on new initiatives:

Current wording

Advanced Materials and Chemicals is an area of growth for the Company. Kodak is using its deep expertise in chemistry and strengths in layering and coating processes created by decades of experience in film manufacturing to pursue existing and new initiatives including:

Previous wording

Film and related component manufacturing operations and Kodak Research Laboratories utilize capacity at EBP, which helps cost absorption for both Kodak operations and tenants at EBP. Kodak has invested in film manufacturing to increase capacity and to grow different initiatives in film. In the fourth quarter of 2025, Kodak launched its own direct distribution brand of still films which aim to provide distributors, retailers and consumers with more stable pricing and a broader, more reliable supply. In addition, Kodak announced the availability of KODAK VERITA 200D Color Negative Motion Picture Film (5206/7206), a new specialty film stock that expands the Company's motion picture portfolio and reinforces Kodak’s long-standing leadership in film.

Current wording

Film – Kodak has grown the film segment by investing in product innovation and significantly increasing manufacturing capacity. In the fourth quarter of 2025, Kodak launched its own direct-to-distributors line of still films which aim to provide distributors, retailers and consumers with more stable pricing and a broader, more reliable supply. In addition, Kodak announced the availability of KODAK VERITA 200D Color Negative Motion Picture Film (5206/7206), a new specialty film stock that expands the Company's motion picture portfolio and reinforces Kodak’s long-standing leadership in film. The Company is committed to providing film to customers to help meet market demand.

Previous wording

EV/Energy Storage Battery Material Manufacturing - Coating of substrates is a critical aspect of manufacturing materials for batteries and Kodak plans to capitalize on its expertise in coating technology to develop opportunities in this area. Kodak utilizes its pilot coating facility to conduct development of coated electrodes for a variety of battery, fuel cell, and solar film companies as well as low volume manufacturing of electrodes. Kodak has utilized an existing production coating facility to manufacture coated substrates for EV cell assembly. Investment in this production facility began in 2025 and will continue into 2026 to expand volume of battery components manufactured at the facility.

Current wording

EV/Energy Storage Battery Material Manufacturing – Coating of substrates is a critical aspect of manufacturing materials for batteries and Kodak plans to capitalize on its expertise in coating technology to develop opportunities in this area. Kodak utilizes its pilot coating facility to conduct development of coated electrodes for a variety of battery, fuel cell, and solar film companies as well as low volume manufacturing of electrodes. Kodak has utilized an existing production coating facility to manufacture coated substrates for EV cell assembly. Investment in this production facility began in 2025 and will continue into 2026 to expand capabilities and capacity to enable greater volume.

Previous wording

Pharmaceuticals Manufacturing - Kodak completed construction of its Current Good Manufacturing Practice (“cGMP”) lab and manufacturing facility at Eastman Business Park ("EBP") in 2025 and is now certified to manufacture reagents for certain healthcare applications. Kodak plans to expand the product offering over time and is in the process of obtaining ISO 13458 and FDA Class II certification for its manufacturing facility.

Current wording

Pharmaceuticals Manufacturing – Kodak completed construction of its Current Good Manufacturing Practice (“cGMP”) lab and manufacturing facility at Eastman Business Park (”EBP”) in 2025 and is now certified to manufacture unregulated and regulated reagents for certain healthcare applications. Kodak plans to expand the product offering over time and is in the process of obtaining ISO 13458 and FDA Class II certification for its manufacturing facility.

Previous wording

Transparent Antennas - Kodak plans to leverage its proprietary copper micro-wire technologies and high-resolution printing expertise to contract-manufacture custom transparent antennas for automotive, commercial construction, and other applications requiring excellent radio frequency (“RF”) and optical performance. The integration of antennas is growing worldwide due to the rapid expansion of 5G and an overall increase in RF communications, and the ubiquity of glass surfaces makes transparent antennas attractive for multiple end-use markets. Kodak is evaluating this unique technology and expertise for transparent heaters for automotive and telecom applications, as well as for the manufacture of electronic films for the medical device market.

Current wording

Additional nascent growth initiatives – Kodak plans to leverage its proprietary copper micro-wire technologies and high-resolution printing expertise to contract-manufacture custom transparent antennas for automotive, commercial construction, and other applications requiring excellent radio frequency (“RF”) and optical performance. Kodak is also evaluating this unique technology and expertise for transparent heaters in automotive and telecom applications, as well as for the manufacture of electronic films for the medical device market. In addition, the Company is leveraging a proprietary technology initially developed for electrophotographic toners to develop a product designed to offer superior light management, from complete blackout to selective light filtering that is compatible with an unmatched range of fabrics and also to manage ultraviolet and/or infrared light in addition to visible light.

Previous wording

For the three months ended March 31, 2026 revenues increased$18 million compared with the same period in 2025, primarily driven by improved pricing in Print ($10 million) and Advanced Materials and Chemicals ($6 million), favorable foreign currency fluctuations ($7 million) and higher volume in Brand ($1 million), partially offset by lower volume in Advanced Materials and Chemicals ($5 million) and Print ($2 million). See segment discussions for additional details.

Current wording

For the six months ended June 30, 2026 revenues increased $66 million compared with the same period in 2025, primarily driven by improved pricing in Print ($24 million) and Advanced Materials and Chemicals ($22 million), higher volume in Advanced Materials and Chemicals ($10 million), Print and Brand ($2 million each) and favorable foreign currency fluctuations ($7 million). See segment discussions for additional details.

Previous wording

Gross profit for the three months ended March 31, 2026 increased $11 million compared with the same period in 2025, primarily due to improved pricing in Print ($9 million) and Advanced Materials and Chemicals ($5 million), higher margins in Print ($1 million), favorable foreign currency fluctuations ($1 million), reduced manufacturing costs in Print ($1 million), higher volume in Brand ($1 million) and net change in employee benefit reserves ($1 million), partially offset by higher silver costs ($5 million) and manufacturing costs ($2 million) in Advanced Materials and Chemicals, lower volume in Advanced Materials and Chemicals ($1 million) and higher aluminum costs ($1 million). See segment discussions for additional details.

Current wording

Gross profit for the six months ended June 30, 2026 increased $42 million compared with the same period in 2025, primarily due to improved pricing in Print ($21 million) and Advanced Materials and Chemicals ($16 million), higher volumes in Advanced Materials and Chemicals ($10 million), Print ($7 million) and Brand ($2 million), reduced manufacturing costs in Print ($4 million), favorable foreign currency fluctuations ($1 million) and net change in employee benefit reserves ($1 million). These favorable impacts were partially offset by higher silver and aluminum costs ($9 million each) and increased manufacturing costs ($3 million) in Advanced Materials and Chemicals. See segment discussions for additional details.

Previous wording

Consolidated selling and general administrative expenses ("SG&A") increased $3 million in thethree months ended March 31, 2026 compared to the prior year period, primarily due to an increase in equity compensation costs ($4 million), partially offset by a decline in consulting and other costs ($1 million) related to an insurance reimbursement of legal costs previously paid by the Company associated with investigations and litigation received in the first quarter of 2026 ($1 million).

Current wording

Consolidated selling and general administrative expenses ("SG&A") increased $12 million in thethree months ended June 30, 2026 compared to the prior year period, primarily due to an increase in equity compensation costs ($8 million) and an increase in selling and administrative costs of $4 million primarily related to the net change in employee benefit reserves and costs associated with corporate infrastructure.

Previous wording

Consolidated research and development ("R&D") expenses in the three months ended March 31, 2026 were relatively flat compared to the prior year period.

Current wording

Consolidated research and development ("R&D") expenses in the three and six months ended June 30, 2026 were relatively flat compared to the prior year period.

Previous wording

Pension income excluding service cost component decreased $18 million in thethree months ended March 31, 2026 due to lower expected return on assets driven by a decrease in the asset base due to the settlement of the Kodak Retirement Income Plan ("KRIP") in the fourth quarter of 2025. Refer to Note 14, "Retirement Plans".

Current wording

Pension income excluding service cost component decreased $11 million and $29 million, respectively, in thethree and six months ended June 30, 2026 due to lower expected return on assets driven by a decrease in the asset base due to the settlement of the Kodak Retirement Income Plan ("KRIP") in the fourth quarter of 2025. Refer to Note 15, "Retirement Plans".

Previous wording

For details, refer to Note 12, "Other Charges, Net".

Current wording

For details, refer to Note 13, "Other (Income) Charges, Net".

Previous wording

The balance of Kodak’s continuing operations, which primarily represent the operations of EBP and do not meet the criteria of a reportable segment, are reported in All Other revenues and All Other Operational EBITDA.

Current wording

The balance of Kodak’s continuing operations, which primarily represent the operations of EBP and do not meet the criteria of a reportable segment, are reported in All Other revenues and All Other.

Previous wording

Kodak’s segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (“Operational EBITDA”). As demonstrated in the table below, Operational EBITDA represents consolidated loss from operations excluding the provision for income taxes; non-service cost components of pension and other postemployment benefits (“OPEB”) income; depreciation and amortization expense; restructuring costs and other; stock-based compensation expense; idle costs; interest expense; loss on early extinguishment of debt; other operating expense, net and other charges, net.

Current wording

Kodak’s segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (“Operational EBITDA”). As demonstrated in the table below, Operational EBITDA represents consolidated earnings (loss) from operations excluding the provision for income taxes; non-service cost components of pension and other postemployment benefits (“OPEB”) income; depreciation and amortization expense; restructuring costs and other; stock-based compensation expense; consulting and other costs; idle costs; interest expense; loss on early extinguishment of debt; other operating expense, net and other (income) charges, net.

Previous wording

Segment Operational EBITDA and Consolidated Loss from Operations Before Income Taxes

Current wording

Segment Operational EBITDA and Consolidated Earnings (Loss) from Operations Before Income Taxes

Previous wording

litigation. Consulting and other costs included $1 million of income in the three months ended March 31, 2026, representing insurance reimbursement of legal costs previously paid by the Company associated with investigations and litigation matters.

Current wording

Consulting and other costs are professional services and internal costs associated with corporate strategic initiatives and litigation. Consulting and other costs included $1 million of income in the six months ended June 30, 2026 and the three and six months ended June 30, 2025, representing insurance reimbursement of legal costs previously paid by the Company associated with investigations and litigation matters.

Previous wording

not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties.

Current wording

Consists of third-party costs such as security, maintenance and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties.

Previous wording

(3)As reported in the Consolidated Statement of Operations.

Current wording

As reported in the Consolidated Statement of Operations.

Previous wording

There was no change to employee benefit reserves in the three months ended March 31, 2026. Kodak increased employee benefit reserves by approximately $1 million in the three months ended March 31, 2025 due to an increase in workers' compensation reserves driven by changes in discount rates. The increase in reserves in the three months ended March 31, 2025 impacted gross profit by approximately $1 million.

Current wording

Kodak increased employee benefit reserves by approximately $1 million in the six months ended June 30, 2025 due to an increase in workers' compensation reserves driven by changes in discount rates. The increase in reserves in the six months ended June 30, 2025 impacted gross profit by approximately $1 million. There was no change to employee benefit reserves in the three months ended June 30, 2025.

Previous wording

Print revenues for the three months ended March 31, 2026 increased $15 million primarily due to improved pricing in Prepress Solutions ($10 million), favorable foreign currency fluctuations ($7 million), higher volume in PROSPER ($4 million) and Software ($1 million), partially offset by reduced volume in Prepress Solutions ($4 million) and Electrophotographic Printing Solutions ("EPS") ($3 million).

Current wording

Print revenues for the six months ended June 30, 2026 increased $32 million primarily due to improved pricing in Prepress Solutions ($24 million), higher volume in PROSPER ($13 million) and Software ($1 million) and favorable foreign currency fluctuations ($7 million), partially offset by reduced volume in Prepress Solutions ($7 million) and EPS ($5 million).

Previous wording

Print Operational EBITDA for the three months ended March 31, 2026 increased $12 million primarily due to improved pricing in Prepress Solutions ($9 million), higher volume in PROSPER ($1 million) and Software ($1 million), higher margins in EPS ($1 million)

Current wording

Print Operational EBITDA for the three months ended June 30, 2026 increased $12 million primarily due to improved pricing in Prepress Solutions ($12 million), higher volume in PROSPER ($6 million) and EPS ($1 million) and reduced manufacturing costs ($2 million), partially offset by higher costs for aluminum ($8 million) and SG&A ($2 million).

Previous wording

and reduced manufacturing costs ($1 million), partially offset by higher costs for aluminum ($1 million) and lower volume in Prepress Solutions ($1 million).

Current wording

Print Operational EBITDA for the six months ended June 30, 2026 increased $24 million primarily due to improved pricing in Prepress Solutions ($21 million), higher volume in PROSPER ($6 million), EPS ($2 million) and Software ($1 million), and reduced manufacturing costs ($4 million), partially offset by higher costs for aluminum ($9 million) and lower volume in Prepress Solutions ($1 million).

Previous wording

Advanced Materials and Chemicals Operational EBITDA was flat for the three months ended March 31, 2026 compared to the prior year period due to improved pricing in Industrial Film and Chemicals ($5 million), favorable foreign currency fluctuations ($1 million) and net change in employee benefit reserves ($1 million), offset by higher silver costs ($5 million) and manufacturing costs ($2 million).

Current wording

Advanced Materials and Chemicals Operational EBITDA for the six months ended June 30, 2026 increased $14 million due to improved pricing in Industrial Film and Chemicals ($14 million) and Motion Picture ($1 million), increased volume in Industrial Film and Chemicals ($11 million), favorable foreign currency fluctuations ($1 million) and net change in employee benefit reserves ($1 million), partially offset by higher silver costs ($9 million), SG&A ($3 million) and manufacturing costs ($3 million).

Previous wording

Brand revenues for the three months ended March 31, 2026 increased $2 million due to higher volumes.

Current wording

Brand revenues for the three and six months ended June 30, 2026 increased $1 million and $3 million, respectively, due to higher volumes.

Previous wording

Brand Operational EBITDA for the three months ended March 31, 2026 increased $1 million due to higher volumes.

Current wording

Brand Operational EBITDA for the three and six months ended June 30, 2026 increased $1 million and $2 million, respectively, due to higher volumes.

Previous wording

Kodak ended the quarter with a cash balance of $299 million, a decrease of$38 million from December 31, 2025.

Current wording

Kodak ended the quarter with a cash balance of $290 million, a decrease of$47 million from December 31, 2025.

Previous wording

During the first quarter of 2026, the Company received $46 million of cash from these redemptions. In April 2026, the Company received an additional $39 million of cash and expects to receive $16 million in cash proceeds during the remainder of 2026. The remaining value of the investment assets is expected to be converted to cash primarily in 2027 and 2028.

Current wording

During the first and second quarters of 2026, the Company received $46 million and $41 million, respectively, of cash from these redemptions. In July 2026, the Company received an additional $5 million of cash and expects to receive $7 million in cash proceeds during the remainder of 2026. The remaining value of the investment assets is expected to be converted to cash primarily in 2027 and 2028.

Previous wording

Available liquidity includes existing cash and cash equivalent balances. The amount of available liquidity is subject to fluctuations and includes cash balances held by various entities worldwide. At March 31, 2026 and December 31, 2025 approximately $173 million and $231 million, respectively, of cash and cash equivalents were held within the U.S. and approximately $126 million and $106 million, respectively, of cash and cash equivalents were held outside the U.S. Cash balances held outside the U.S. are generally required to support local country operations and may have high tax costs or other limitations that delay the ability to repatriate, and therefore may not be readily available for transfer to other jurisdictions. Kodak utilizes cash balances outside the U.S. to fund needs in the U.S. through the use of intercompany loans.

Current wording

Available liquidity includes existing cash and cash equivalent balances. The amount of available liquidity is subject to fluctuations and includes cash balances held by various entities worldwide. At June 30, 2026 and December 31, 2025 approximately $165 million and $231 million, respectively, of cash and cash equivalents were held within the U.S. and approximately $125 million and $106 million, respectively, of cash and cash equivalents were held outside the U.S. Cash balances held outside the U.S. are generally required to support local country operations and may have high tax costs or other limitations that delay the ability to repatriate, and therefore may not be readily available for transfer to other jurisdictions. Kodak utilizes cash balances outside the U.S. to fund needs in the U.S. through the use of intercompany loans.

Previous wording

As of March 31, 2026 and December 31, 2025, outstanding intercompany loans to the U.S. were $479 million and $509 million, respectively, which included short-term intercompany loans from Kodak’s international finance center of $205 million and $235 million, respectively. In China, where approximately $36 million and $35 million of cash and cash equivalents was held as of March 31, 2026 and December 31, 2025, respectively, there are limitations related to net asset balances that may impact the ability to make cash available to other jurisdictions in the world. Under the terms of the Amended and Restated Term Loan Credit Agreement, the Company is permitted to invest up to $75 million in Restricted Subsidiaries that are not Loan Parties and in joint ventures or Unrestricted Subsidiaries that are not party to the Amended and Restated Term Loan Credit Agreement.

Current wording

As of June 30, 2026 and December 31, 2025, outstanding intercompany loans to the U.S. were $479 million and $509 million, respectively, which included short-term intercompany loans from Kodak’s international finance center of $210 million and $235 million, respectively. In China, where approximately $40 million and $35 million of cash and cash equivalents was held as of June 30, 2026 and December 31, 2025, respectively, there are limitations related to net asset balances that may impact the ability to make cash available to other jurisdictions in the world.

Previous wording

The Company’s Hong Kong subsidiary has an intercompany loan from one of the Company’s Chinese subsidiaries with a maturity date of November 16, 2026, the proceeds of which were in turn loaned to the Company. The terms of the intercompany loan require the Company to make efforts to repay the outstanding loan balance prior to maturity. The outstanding amount of the intercompany loan as of March 31, 2026 was $68 million. The Company is evaluating repayment alternatives for the current loan agreement which would allow Kodak and its subsidiaries to perform their obligations to each other while minimizing the impact on U.S. liquidity taking into account requirements imposed by Chinese regulators. Any amounts repaid to the Chinese subsidiary may not be able to be loaned, repatriated or otherwise moved back to the U.S., in which case the Company’s U.S. liquidity would be reduced.

Current wording

The Company’s Hong Kong subsidiary has an intercompany loan from one of the Company’s Chinese subsidiaries with a maturity date of November 16, 2026, the proceeds of which were in turn loaned to the Company. The terms of the intercompany loan require the Company to make efforts to repay the outstanding loan balance prior to maturity. The outstanding amount of the intercompany loan as of June 30, 2026 was $63 million. The Company is evaluating repayment alternatives for the current loan agreement which would allow Kodak and its subsidiaries to perform their obligations to each other while minimizing the impact on U.S. liquidity taking into account requirements imposed by Chinese regulators. Any amounts repaid to the Chinese subsidiary may not be able to be loaned, repatriated or otherwise moved back to the U.S., in which case the Company’s U.S. liquidity would be reduced.