Slides
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Q3’25 Earnings Presentation November 5, 2025
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2 Disclaimer Forward-Looking Statements This presentation and the related conference call contain “forward-looking statements.” All statements, other than statements offact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements.Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risks and uncertainties, which may cause the actual results or performance of the Company to differ materially from such forward-looking statements. Such risks and uncertainties include, but are not limited to, (1) our ability to achieve our outlook regarding the third quarter 2025 and full year 2025, (2) our ability to recognize the expected savings from, and the timing and impact of, our existing and anticipated cost reductionactions, and our ability to optimize our portfolio and operational footprint, (3) the amount of our obligations and nature of our contractual restrictions pursuant to, and disputes that have or may hereafter arise under the agreements we entered into with Honeywell in connection with our spin-off, (4) risks related to our recently completed acquisitions, including Snap One, and ourability to achieve the targeted amount of annual cost synergies and successfully integrate the acquired operations (including successfully driving category growth in connected offerings), (5) the ability of Resideo to drive increased customer value and financial returns and enhance strategic and operational capabilities, (6) risks and uncertainties relating to tariffs that have been or may be imposed by the United States and other governments, (7) risks related to our anticipated separation of Resideo Technologies' Products & Solutions and ADI Global Distribution businesses into two independent publicly traded companies, including the timing thereof and that we may experience operational or other disruptions as a result of the separation and the planning therefor, and (8) the other risks described under the headings “Risk Factors” and “Cautionary Statement Concerning Forward-Looking Statements” in our Annual Report on Form 10-K for the year ended December 31, 2024 and other periodic filings we make from time to time with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and actual results, developments, and business decisions may differ from those envisaged by our forward-looking statements. Except as required by law, we undertake no obligation to update such statements to reflect events or circumstances arising after the date of this presentation and we caution investors not to place undue reliance on any such forward looking statements. Use of Non-GAAP Measures This presentation includes certain “non-GAAP financial measures” as defined under the Securities Exchange Act of 1934 and in accordance with Regulation G thereunder. Management believes the use of such non-GAAP financial measures assists investors in understanding the ongoing operating performance of theCompany by presenting the financial results between periods on a more comparable basis. Such non-GAAP financial measures should not be construed as an alternative to reported results determined in accordance with U.S. GAAP. We have posted the reconciliations of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with U.S. GAAP in the Q3’25 Financial Data Workbook located at investor.resideo.com. A reconciliation of the forecasted range for Adjusted EBITDA, Adjusted Earnings Per Share, and Adjusted Cash Provided by Operations for the fourth quarter of 2025 and for the fiscal period ending December 31, 2025 are not included in this presentation due to the number of variables in the projected range and because we are currently unable to quantify accurately certain amounts that would be required to be included in the U.S. GAAP measure or the individual adjustments for such reconciliation. In addition, we believe such reconciliation would imply a degree of precision that would be confusing or misleading to investors. Throughout this presentation, Non-GAAP financial measures can sometimes be identified by the use of the term “Adjusted” in their descriptions. However, for the fourth quarter of 2025 and full year 2025 respectively, we anticipate the following expenses in our GAAP to non-GAAP reconciliation: depreciation and amortization of $52 million and $197 million, interest expense, net of $48 million and $134 million, and stock-based compensation expense of $15 million and $58 million.
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3 Resideo at a Glance Strategic Rationale for Separation Key Financial Data Agenda Investment Thesis
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Resideo at a Glance
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5 5 Our two businesses are indispensable partners to professionals who help homeowners and businesses stay connected and in control of their comfort, security, resource efficiency, and smart living. Headquartered in Scottsdale, AZ A leading building products manufacturer focused on residential controls and sensing solutions The leading global distributor & of security, fire and AV products $4.79B LTM Net Revenue $2.65B LTM Net Revenue $7.44B LTM Net Revenue Products & Solutions (P&S) ADI Global Distribution 10.7% LTM Adjusted EBITDA Margin 24.5% LTM Adjusted EBITDA Margin 7.6% LTM Adjusted EBITDA Margin NOTE: LTM represents last twelve months ended September 27, 2025. LTM amounts are unaudited. LTM Adjusted EBITDAset forth above is for each segment and does not include corporate costs. See the Q3’25 Financial Data Workbook at www.investor.resideo.com for the Non-GAAP financial measures and reconciliations.
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6 P&S: A Leading Manufacturer of Building Products Focused on Residential Controls and Sensing Solutions Financial HighlightsInvestment Highlights A leading player in a $40B+ serviceable addressable industry segment positioned to grow across attractive product categories – that are critical to maximizing comfort, enabling safety, and delivering cost savings for over 150M residential and commercial spaces Uniquely positioned with portfolio of integrated sensors and controls for the whole home, with millions of connected customers World-class trusted brands including Honeywell Home and First Alert – carrying forward a 100+ year legacy of innovation Deep channel partnerships with network of 100K+ pro installers and dealers, OEMs and distributors built over decades – driving over 15M installs per year Macroeconomic and housing / remodeling related tailwinds are anticipated to contribute to long-term growth ~5% 2020 - 2024 Net Revenue CAGR ~$2.65B LTM Q3 2025 Net Revenue 42.0% LTM Q3 2025 Gross Margin (~500 bps of expansion over 10 consecutive quarters) 24.5% LTM Q3 2025 Segment Adj. EBITDA Margin NOTE: LTM represents last twelve months ended September 27, 2025. LTM amounts are unaudited. LTM Adjusted EBITDA is for each segment and does not include corporate costs. See the Q3’25 Financial Data Workbook at www.investor.resideo.comfor the Non-GAAP financial measures and reconciliations. Serviceable addressable market data provided by third party sources.
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7 ADI: Leading Global Wholesale Distributor of Low-Voltage Products, Including Security and Audio-Visual Solutions ~9% 2020 - 2024 Net Revenue CAGR ~$4.79B LTM Q3 2025 Net Revenue 22.0% LTM Q3 2025 Gross Margin (~300 bps of expansion over 6 consecutive quarters) 7.6% LTM Q3 2025 Segment Adj. EBITDA Margin Financial HighlightsInvestment Highlights Leading Security and Residential AV distributor in a $30B+ serviceable addressable industry segment Robust platform for proprietary and third-party security, audio-visual and low-voltage offerings, distributing more than 500,000+ products Optimally positioned with an expansive network of 1,000+ manufacturers, enabling rapid product launches and a strong lineup aligned with market trends and customer needs Strategically advantaged to benefit from continued digitalization of B2B distribution through omnichannel experience for integrators with 200+ locations worldwide Deep relationships with pro network with 100K+ pros served annually via digital and physical storefronts NOTE: LTM represents last twelve months ended September 27, 2025. LTM amounts are unaudited. LTM Adjusted EBITDA is for each segment and does not include corporate costs. See the Q3’25 Financial Data Workbook at www.investor.resideo.com for theNon-GAAP financial measures and reconciliations. Serviceable addressable market data provided by third party sources.
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Strategic Rationale for Separation
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9 Key Brands Safety Creating Two Leading, Focused Companies Air Security Energy Water Home Solutions A Leading Manufacturer of Building Products Focused on Residential Controls and Sensing Solutions $2.65B LTM Net Revenue Video Surveillance Residential and Pro AV Data Communications Networking Intrusion Fire Access Control Security & Low Voltage Products Leading Global Wholesale Distributor of Low-Voltage Products, Including Security and Audio-Visual Solutions Key Brands Wire & Cable $4.79B LTM Net Revenue 24.5% LTM AEBITDA Margin 7.6% LTM AEBITDA Margin NOTE: LTM represents last twelve months ended September 27, 2025. LTM amounts are unaudited. LTM Adjusted EBITDA is for each segment and does not include corporate costs. See the Q3’25 Financial Data Workbook at www.investor.resideo.com for the Non-GAAP financial measures and reconciliations.
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10 Resideo is Taking Significant Actions to Drive Value Creation Eliminated All Monetary Obligations Under the Indemnification Agreement Separating Into Two Independent Companies Terminated the Honeywell Indemnification and Reimbursement Agreement (“Indemnification Agreement”) on July 30, 2025 Accelerated and eliminated all future payments and obligations and related affirmative and negative covenants, providing increased strategic and financial flexibility to Resideo Resideo made its one-time cash payment of $1.59 billion to Honeywell during Q3 2025 Immediately unlocked $35 million of quarterly EBITDA Creating two focused public companies with clear growth priorities Strategic alignment and management focus to drive long-term success and shareholder value A Leading Manufacturer of Building Products Focused on Residential Controls and Sensing Solutions Leading Global Wholesale Distributor of Low-Voltage Products, Including Security and Audio-Visual Solutions
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11 Simplifying the Story by Removing a Structural Impediment Entered into the Indemnification Agreement in connection with the spin-off from Honeywell in 2018 Quarterly reimbursement payment to Honeywell for certain environmental expenses incurred by Honeywell Payments to Honeywell capped at $140 million annually, with the obligation originally set to expire at end of 2043 Regularly scheduled $35 million payment was made in July 2025. Resideo made a one-time cash payment to Honeywell of $1.59 billion in August 2025 Payment financed through a combination of net proceeds from new senior secured debt financing of $1.225 billion and cash on hand Eliminates ongoing payments under the Indemnification Agreement and related affirmative and negative covenants, increasing strategic and financial flexibility Enables ability to execute a separation to unlock potential significant shareholder value Simplified financial profile Immediately accretive to Adjusted EPS and Adjusted Cash From Operations Background Agreement Details Stakeholder Benefits
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12 Rob Aarnes and Tom Surran to be CEOs of their respective companies upon completion of the separation Joined Resideo in 2023 as President of the P&S business segment. Most recently was Chief Operating Officer at FLIR Systems 30 years of experience in senior executive roles in pro- and consumer- focused technology industries, including infrared and thermal imaging and sensing and measuring controls Extensive background in building science, strategy, operational excellence, product management and bringing new products to market Has revitalized P&S product development process and supply chain / manufacturing processes, resulting in ten consecutive quarters of year- over-year gross margin expansion Tom Surran President, P&S (P&S refers to RemainCo Resideo post anticipated separation) Rob Aarnes President, ADI Global Distribution President of the ADI business segment since 2017; joined ADI in 2012; previously VP / GM and VP Operations for ADI North America at Honeywell Strong track record leading at ADI delivering mid-to-high single-digit organic net revenue CAGR over 10 years Critical role in spinning Resideo from Honeywell in 2018 Led the acquisition of Snap One in 2024; delivered compelling value to stakeholders and $75M+ in synergies exiting year 3 post-acquisition U.S. Navy veteran, with early experience in global retail operations and supply chain as a Naval Supply Officer
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13 Compelling Strategic Rationale to Separate Sharper Focus Operational focus and dedicated management teams to win in their respective marketplaces Enhanced Flexibility Increased operating and financial flexibility to pursue growth opportunities Tailored Capital Allocation Strategies Positioned to capitalize on distinct investment opportunities for each independent company Aligned with Investor Demand Designed to attract a shareholder base that is focused on each business’ distinct value proposition and simpler financial model Separation creates two pure-play companies, each better positioned to deliver long-term growth and value creation for shareholders
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Key Financial Data
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15 2023 INVESTOR DAY 15 Resideo – Q3’25 Financial Summary ($ in millions, except per share) Q3’25 Q3’24 YoY Change Net Revenue $1,864 $1,828 +2% P&S Revenue $661 $645 +2% ADI Revenue $1,203 $1,183 +2% Gross Margin 29.8% 28.7% +110 bps P&S Gross Margin 43.0% 42.2% +80 bps ADI Gross Margin 22.6% 21.3% +130 bps Income from Operations $154 $126 22% Net Income $156 $20 680% Income Per Share – Diluted $0.85 $0.07 NR Adjusted Earnings Per Share – Diluted $0.89 $0.59 +51% Adjusted EBITDA $229 $190 +21% P&S Adjusted EBITDA $165 $157 +5% ADI Adjusted EBITDA $92 $92 +0% NOTES: See the Q3’25 Financial Data Workbook at www.investor.resideo.com for the Non-GAAP financial measures and reconciliations. NR stands for not relevant.
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16 Resideo - Key Q3’25 Financial Trends $1,000 $1,100 $1,200 $1,300 $1,400 $1,500 $1,600 $1,700 $1,800 $1,900 $2,000 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 $0.00 $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 $0.70 $0.80 $0.90 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 +2% Y/Y +51% Y/Y $ in M’s Net Revenue Adjusted EPS NOTE: See the Q3’25 Financial Data Workbook at www.investor.resideo.com for the Non-GAAP financial measures and reconciliations.
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17 Resideo - Key Q3’25 Financial Trends -75 -25 25 75 125 175 225 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 $ in M’s 0 40 80 120 160 200 240 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 +21% Y/Y $ in M’s Adjusted EBITDA Adjusted Cash From Operations NOTE: Reported cash used by operations in Q3’25 was $1,571 million. Adjusted cash from operations adds back the one-time $1,590 million payment to Honeywell in August 2025 to terminate the Indemnification Agreement. Q3’25 adjusted cash provided by operations equals $19 million. See the Q3’25 Financial Data Workbook at www.investor.resideo.com for the Non- GAAP financial measures and reconciliations. Change of ($128M) Y/Y
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18 Products & Solutions – Key Q3’25 Financial Trends $- $100 $200 $300 $400 $500 $600 $700 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 P&S Revenue 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 P&S Gross Margin Rate $- $30 $60 $90 $120 $150 $180 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 P&S Adjusted EBITDA +5% Y/Y+2% Y/Y $ in M’s +80 bps Y/Y $ in M’s NOTE: See the Q3’25 Financial Data Workbook at www.investor.resideo.com for the Non-GAAP financial measures and reconciliations.
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19 ADI Global Distribution – Key Q3’25 Financial Trends $- $200 $400 $600 $800 $1,000 $1,200 $1,400 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 ADI Revenue 0% 4% 8% 12% 16% 20% 24% Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 ADI Gross Margin Rate $- $20 $40 $60 $80 $100 $120 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 ADI Adjusted EBITDA Flat Y/Y+2% Y/Y +130 bps Y/Y $ in M’s $ in M’s NOTE: See the Q3’25 Financial Data Workbook at www.investor.resideo.com for the Non-GAAP financial measures and reconciliations.
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20 2023 INVESTOR DAY 20 $ in millions September 27, 2025 December 31, 2024 Cash and cash equivalents $345 $692 Total debt $3,237 $2,015 Accounts receivable, net $1,147 $1,023 Inventories, net $1,328 $1,237 Obligations payable under the Indemnification Agreement(1) $0 $723 Condensed Summary Balance Sheet NOTE (1): The obligations payable under the Indemnification Agreement is $0 because we completed the termination of the Indemnificat ion Agreement in August 2025.
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21 Durable Annual Free Cash Flow Generation Free Cash Flow (1) Conversion of >100% of Net Income in 2023 and 2024 $ in millions September 27, 2025 Cash and cash equivalents $345 Gross debt $3,237 September 27, 2025 Cash provided by operating activities (LTM)(1)(2) $357 Capital expenditures (LTM) $101 ($100) $0 $100 $200 $300 $400 2023 2024 Q3'24 Q3'25 Free Cash Flow (1)(2) $M (1) Free cash flow is defined as cash provided by operating activities less capital expenditures as reported in our SEC filings. Reported cash provided by (used in) operating activities was $440M in 2023, $444M in 2024, $147M in Q3’24, and ($1,571)M in Q3’25. Capital expenditures were $105M in 2023, $80M in 2024, $22M in Q3’24 and $28M in Q3’25. (2) Q3’25 reported cash provided by operations was adjusted to add back the one- time August 2025 payment of $1,590M to Honeywell to terminate the Indemnification Agreement. Q3’25 adjusted cash provided by operations equals $19M and Q3’25 adjusted free cash flow equals ($9)M. See the Q3’25 Financial Data Workbook at www.investor.resideo.com for the Non- GAAP financial measures and reconciliations.
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22 2025 Outlook and Key Modeling Assumptions 2025 Outlook Total net revenue $7,430 - $7,470 Adjusted EBITDA(1) $818 - $832 Adjusted EPS(1) $2.57 - $2.67 Adjusted Cash Provided by Operations(1)(2) $410 - $450 Key 2025 Modeling Assumptions Stock-based compensation $57 - $62 Depreciation & amortization $195 - $200 Capital expenditures $128 - $133 Net interest expense $130 - $135 Income tax expense $40 - $45 Average diluted shares 152M – 154M Q4’25 Outlook Total net revenue $1,853 - $1,893 Adjusted EBITDA(1) $211 - $225 Adjusted EPS(1) $0.42 - $0.52 $ in Millions, except per share NOTE (1): Non-GAAP financial measures. See the Q3’25 Financial Data Workbook at www.investor.resideo.com for the Non-GAAP financial measures and reconciliations. NOTE (2): Excludes one-time payment to Honeywell related to terminating the Indemnification Agreement.
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Investment Thesis
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24 REZI – Invest Now for the Long Term Profitable growth opportunities in sizeable addressable industry segments Positioned well to take advantage of future macro and secular growth tailwinds Separation creates two scaled, strong and focused pure-play businesses Consistent and proven execution despite challenging environment Trusted partner to professionals and deep channel relationships Leading market positions with well- respected and trusted brands Structural margin expansion stories with idiosyncratic profitability drivers Sum-of-the-parts valuation offers potential for re-rating and upside Strategic Identity Differentiation & Relationships Market Opportunities Value Creation
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25 www.resideo.com