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 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:

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 reports on Form 10‐Q for the quarters ended March 31, 2026 and June 30, 2026, and in other filings the Company makes with the SEC from time to time, as well as the following:

Previous 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.

Current wording

Consolidated revenues in the three and nine months ended September 30, 2026 were $276 million and $852 million, respectively, increases of$7 million (3%) and $73 million (9%), respectively, compared to the prior year quarter and year-to-date period. Currency fluctuations had an unfavorable impact on revenues ($2 million) in the three months ended September 30, 2026 compared to the three months ended September 30, 2025 and a favorable impact on revenues ($5 million) in the nine months ended September 30, 2026 compared to the nine months ended September 30, 2025.

Previous 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.

Current wording

Print revenues in the three and nine months ended September 30, 2026 were $165 million and $540 million, respectively, a decrease of$12 million (7%) compared to the prior year quarter and an increase of $20 million (4%) compared to the prior year-to-date period. Print revenues accounted for 60% and 63% of Kodak’s total revenues for the three and nine months ended September 30, 2026, respectively. Advanced Materials and Chemicals revenues in the three and nine months ended September 30, 2026 were $99 million and $280 million, respectively, increases of $17 million (21%) and $49 million (21%) compared to the prior year quarter and year-to-date period.

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 and six month period ended June 30, 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 three and nine months ended September 30, 2026.

Previous wording

Kodak is in the process of applying for refunds of certain tariffs pursuant to the International Emergency Economic Powers Act ("IEEPA"). Refunds received during the current quarter were immaterial. The timing and amount of any future refunds are uncertain and subject to the outcome of the Company's applications and related governmental determinations.

Current wording

Kodak is in the process of applying for refunds of certain tariffs pursuant to the International Emergency Economic Powers Act ("IEEPA"). Refunds received during the current quarter were approximately $3 million. The timing and amount of any future refunds are uncertain and subject to the outcome of the Company's applications and related governmental determinations.

Previous 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.

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 the film industry’s 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 capabilities and capacity to enable greater volume.

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 electrode components for a variety of battery, fuel cell, and solar film companies. Kodak continues to utilize a separate existing production coating facility to manufacture coated substrates for EV cell assembly. Investment in this production facility began in 2025 and has continued 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 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.

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. On October 28, 2026, Kodak announced the expansion of its pharmaceutical product portfolio with the addition of KODAK® Normal Saline, and launched its new U.S.-based online store designed to simplify purchasing for pharmaceutical, biotech, and life science customers. Kodak plans to continue expanding its product offering over time and is in the process of obtaining ISO 13458 and FDA Class II certification for its manufacturing facility.

Previous 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.

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 electronic films used in the medical device market. In addition, the Company is leveraging a proprietary technology designed to offer superior visible, ultraviolet and infrared light management, from complete blackout to selective light filtering that is compatible with an unmatched range of fabrics.

Previous wording

For the three months ended June 30, 2026 revenues increased$48 million compared with the same period in 2025, primarily driven by improved pricing in Advanced Materials and Chemicals ($16 million) and Print ($14 million) and higher volume in Advanced Material and Chemicals ($14 million), Print ($4 million) and Brand ($1 million). See segment discussions for additional details.

Current wording

For the three months ended September 30, 2026 revenues increased$7 million compared with the same period in 2025, primarily driven by improved pricing in Print ($16 million) and Advanced Materials and Chemicals ($7 million) and higher volumes in Advanced Material and Chemicals ($10 million) and Brand ($3 million). These favorable impacts were partially offset by lower Print volumes ($26 million) and unfavorable foreign currency fluctuations ($2 million). See segment discussions for additional details.

Previous 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.

Current wording

For the nine months ended September 30, 2026 revenues increased $73 million compared with the same period in 2025, primarily driven by improved pricing in Print ($39 million) and Advanced Materials and Chemicals ($29 million), higher volumes in Advanced Materials and Chemicals ($20 million) and Brand ($6 million) and favorable foreign currency fluctuations ($5 million). These favorable impacts were partially offset by lower Print volumes ($24 million). See segment discussions for additional details.

Previous wording

Gross profit for the three months ended June 30, 2026 increased $31 million compared with the same period in 2025, primarily due to improved pricing in Print ($12 million) and Advanced Materials and Chemicals ($11 million), higher volume in Advanced Materials and Chemicals ($11 million), Print ($6 million) and Brand ($1 million) and reduced manufacturing costs in Print ($2 million). These favorable impacts were partially offset by higher aluminum costs ($8 million), higher silver costs ($4 million) and increased manufacturing costs ($1 million) in Advanced Materials and Chemicals. See segment discussions for additional details.

Current wording

Gross profit for the three months ended September 30, 2026 increased $5 million compared with the same period in 2025, primarily due to improved pricing in Print ($14 million) and Advanced Materials and Chemicals ($8 million), higher volumes in Advanced Materials and Chemicals ($7 million) and Brand ($3 million) and net change in employee benefit reserves ($2 million). These favorable impacts were partially offset by higher aluminum costs ($15 million), higher silver costs ($6 million), lower Print volumes ($4 million) and increased manufacturing costs in Advanced Materials and Chemicals ($3 million) and Print ($1 million). See segment discussions for additional details.

Previous 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.

Current wording

Consolidated selling and general administrative expenses ("SG&A") increased $9 million in thethree months ended September 30, 2026 compared to the prior year period, primarily due to an increase in equity compensation costs ($7 million) and an increase in selling and administrative costs ($2 million) primarily related to changes in employee benefit accruals.

Previous wording

Consolidated SG&A increased $15 million in the six months ended June 30, 2026 compared to the prior year period, primarily due to an increase in equity compensation costs ($11 million) and an increase in selling and administrative costs of $3 million primarily related to the net change in employee benefit reserves and costs associated with corporate infrastructure.

Current wording

Consolidated SG&A increased $24 million in the nine months ended September 30, 2026 compared to the prior year period, primarily due to an increase in equity compensation costs ($18 million) and an increase in selling and administrative costs ($6 million) primarily related to changes in employee benefit accruals and costs associated with corporate infrastructure, partially offset by litigation matters.

Previous 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.

Current wording

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

Previous 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".

Current wording

Pension income excluding service cost component decreased $1 million and $30 million, respectively, in thethree and nine months ended September 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. The decrease in both the three and nine months ended September 30, 2026 was also partially offset by a settlement gain of approximately $10 million recognized in the third quarter of 2026. The gain relates to a cash refund KRIP received from Metropolitan Tower Life Insurance Company for the premium true-up of the group annuity contract purchased as part of the KRIP settlement. Refer to Note 15, "Retirement Plans".

Previous wording

For details, refer to Note 12, "Other Operating Expense, Net".

Current wording

For details, refer to Note 12, "Other Operating (Income) Expense, Net".

Previous wording

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

Current wording

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

Previous wording

Print: The Print segment is comprised of four lines of business: the Prepress Solutions business, the PROSPER business, the Software business and the Electrophotographic Printing Solutions business.

Current wording

Print: The Print segment is comprised of four lines of business: the Prepress Solutions business, the PROSPER business, the Software business and the Electrophotographic Printing Solutions ("EPS") business.

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 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.

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 income (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 income (expense), net and other charges, net.

Previous wording

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

Current wording

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

Previous 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.

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 both the nine months ended September 30, 2026 and September 30, 2025, representing insurance reimbursement of legal costs previously paid by the Company associated with investigations and litigation matters.

Previous wording

Kodak decreased employee benefit reserves by approximately $1 million in both the three and six months ended June 30, 2026 due to a decrease in workers' compensation reserves driven by changes in discount rates. The decrease in reserves in both the three and six months ended June 30, 2026 impacted gross profit by approximately $1 million.

Current wording

Kodak decreased employee benefit reserves by approximately $4 million and $5 million in both the three and nine months ended September 30, 2026, respectively, due to a decrease in workers' compensation reserves driven by changes in discount rates. The decrease in reserves in the three months ended September 30, 2026 impacted gross profit by approximately $2 million and SG&A by approximately $1 million. The decrease in reserves in the nine months ended September 30, 2026 impacted gross profit by approximately $3 million and SG&A by approximately $1 million.

Previous 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.

Current wording

Kodak decreased employee benefit reserves by approximately $1 million in the three months ended September 30, 2025 due to a decrease in workers' compensation reserves driven by changes in discount rates. The decrease in reserves in the three months ended September 30, 2025 impacted gross profit by approximately $1 million. There was no change to employee benefit reserves in the nine months ended September 30, 2025.

Previous 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).

Current wording

Print revenues for the three months ended September 30, 2026 decreased $12 million primarily due to lower volumes in Prepress Solutions ($16 million), PROSPER ($6 million), EPS and Software ($2 million each) and unfavorable foreign currency fluctuations ($2 million). These unfavorable impacts were partially offset by improved pricing in Prepress Solutions ($14 million) and EPS ($1 million).

Previous 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).

Current wording

Print revenues for the nine months ended September 30, 2026 increased $20 million primarily due to improved pricing in Prepress Solutions ($38 million) and EPS ($1 million), higher volumes in PROSPER ($7 million) and favorable foreign currency fluctuations ($5 million). These favorable impacts were partially offset by lower volumes in Prepress Solutions ($23 million), EPS ($7 million) and Software ($1 million).

Previous 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).

Current wording

Print Operational EBITDA for the nine months ended September 30, 2026 increased $17 million primarily due to improved pricing in Prepress Solutions ($35 million), higher volumes in PROSPER ($5 million), higher margins in EPS ($3 million), reduced manufacturing costs ($3 million) and net change in employee benefit reserves ($1 million). These favorable impacts were partially offset by higher costs for aluminum ($24 million) and lower volumes in Prepress Solutions ($4 million) and Software ($1 million).

Previous wording

Advanced Materials and Chemicals revenues for the six months ended June 30, 2026 increased $32 million primarily due to improved pricing in Industrial Film and Chemicals ($20 million) and Motion Picture ($2 million) and increased volume in Industrial Film and Chemicals ($9 million) and Motion Picture ($1 million).

Current wording

Advanced Materials and Chemicals revenues for the nine months ended September 30, 2026 increased $49 million primarily due to improved pricing in Industrial Film and Chemicals ($27 million) and Motion Picture ($2 million) and higher volumes in Industrial Film and Chemicals ($17 million) and Motion Picture ($2 million).

Previous 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).

Current wording

Advanced Materials and Chemicals Operational EBITDA for the three months ended September 30, 2026 increased $5 million due to improved pricing in Industrial Film and Chemicals ($7 million), higher volumes in Industrial Film and Chemicals ($6 million) and Motion Picture ($1 million) and net change in employee benefit reserves ($1 million). These favorable impacts were partially offset by higher silver costs ($6 million), manufacturing costs ($3 million) and SG&A ($2 million).

Previous wording

Advanced Materials and Chemicals Operational EBITDA for the three months ended June 30, 2026 increased $14 million due to improved pricing in Industrial Film and Chemicals ($10 million) and Motion Picture ($1 million) and increased volume in Industrial Film and Chemicals ($11 million), partially offset by higher silver costs ($4 million), SG&A ($2 million) and manufacturing costs ($1 million).

Current wording

Advanced Materials and Chemicals Operational EBITDA for the nine months ended September 30, 2026 increased $19 million due to improved pricing in Industrial Film and Chemicals ($22 million) and Motion Picture ($1 million), higher volumes in Industrial Film and Chemicals ($17 million) and Motion Picture ($1 million) and net change in employee benefit reserves ($2 million). These favorable impacts were partially offset by higher silver costs ($19 million), SG&A ($5 million) and manufacturing costs ($2 million).

Previous wording

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

Current wording

Brand revenues for the three and nine months ended September 30, 2026 increased $3 million and $6 million, respectively, due to higher volumes.

Previous 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.

Current wording

Brand Operational EBITDA for the three and nine months ended September 30, 2026 increased $4 million and $6 million, respectively, due to higher volumes.

Previous wording

Kodak recorded charges of $1 million for both the three and six months ended June 30, 2026 in Restructuring costs and other in the Consolidated Statement of Operations.

Current wording

Kodak recorded charges of $2 million and $3 million for the three and nine months ended September 30, 2026, respectively, in Restructuring costs and other in the Consolidated Statement of Operations.

Previous wording

Kodak made cash payments related to restructuring of approximately $1 million and $5 million during the three and six months ended June 30, 2026, respectively.

Current wording

Kodak made cash payments related to restructuring of approximately $3 million and $8 million during the three and nine months ended September 30, 2026, respectively.

Previous wording

The restructuring actions implemented in the first six months of 2026 are expected to generate future annual cash savings of approximately $2 million, which are expected to reduce both future annual SG&A expenses and Cost of revenues by $1 million each. The majority of the annual savings are expected to be in effect by the end of the third quarter of 2026 as such actions are completed.

Current wording

The restructuring actions implemented in the first nine months of 2026 are expected to generate future annual cash savings of approximately $5 million, which are expected to reduce both future annual SG&A expenses and Cost of revenues by $2 million and $3 million, respectively. The majority of the annual savings are expected to be in effect by the end of the fourth quarter of 2026 as such actions are completed.

Previous wording

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

Current wording

Kodak ended the quarter with a cash balance of $317 million, a decrease of$20 million from December 31, 2025.

Previous wording

During the fourth quarter of 2025, the Company completed the settlement of the Kodak Retirement Income Plan ("KRIP") and received $144 million in net cash proceeds from the reversion of KRIP assets, after required debt payments and payment of excise taxes, as well as $158 million of investment assets, of which $9 million was converted to cash in December 2025. The investment assets received by the Company are primarily hedge fund investments which are in redemption.

Current wording

During the fourth quarter of 2025, the Company completed the settlement of the KRIP and received $144 million in net cash proceeds from the reversion of KRIP assets, after required debt payments and payment of excise taxes, as well as $158 million of investment assets, of which $9 million was converted to cash in December 2025. The investment assets received by the Company are primarily hedge fund investments which are in redemption.

Previous 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.

Current wording

During the first, second and third quarters of 2026, the Company received $46 million, $41 million and $6 million, respectively, of cash from these redemptions. In October 2026, the Company received an additional $5 million of cash from these redemptions. 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 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.

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 September 30, 2026 and December 31, 2025 approximately $168 million and $231 million, respectively, of cash and cash equivalents were held within the U.S. and approximately $149 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 which could 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 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.

Current wording

As of September 30, 2026 and December 31, 2025, outstanding intercompany loans to the U.S. were $461 million and $509 million, respectively, which included short-term intercompany loans from Kodak’s international finance center of $192 million and $235 million, respectively. In China, where approximately $43 million and $35 million of cash and cash equivalents was held as of September 30, 2026 and December 31, 2025, respectively, there are limitations related to net asset balances which may impact the ability to make cash available to other jurisdictions in the world.