Eastman Kodak Co. (NYSE:KODK) Q4 2020 Earnings Conference Call March 16, 2021 5:00 PM ET Company Participants Paul Dils - Chief Tax Officer & Director, IR James Continenza - Executive Chairman & CEO David Bullwinkle - CFO, President, Eastman Business Park & SVP Conference Call Participants Operator Ladies and gentlemen, thank you for standing by, and welcome to the Eastman Kodak Q4 2020 Earnings Conference Call. [Operator Instructions]. I would now like to hand the conference over to your speaker for today, ...

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the year ended December 31, 2020 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to_____ Commission File Number 1-87 EASTMAN KODAK COMPANY (Exact name of registrant as specified in its charter) 343 STATE STREET, ROCHESTER, NEW YORK 14650 (Address of principal executive ...

| --- | --- | --- | --- | |--------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | Third Quarter 2020 | | | | | Earnings Call | | | | | November 10, 2020 | | | | Cautionary Statement Regarding Forward-looking Statements Pursuant to Safe Harbor Provisions of The Private Securities Litigation Reform Act of 1995 Cautionary Statement Regarding Forward-Looking Statements This presentation includes "forward-looking statements" as that term is defined under the Private Securities Li ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2020 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-00087 EASTMAN KODAK COMPANY (Exact name of registrant as specified in its charter) NEW JERSEY 16-0417150 (State or other jurisdiction of ...

| --- | --- | --- | |-----------------------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | Second Quarter 2020 Earnings Call | | | | August 11, 2020 | | | Cautionary Statement Regarding Forward-looking Statements Pursuant to Safe Harbor Provisions of The Private Securities Litigation Reform Act of 1995 Cautionary Statement Regarding Forward-Looking Statements This presentation includes "forward-looking statements" as that term is defined under the Private Securities Litigation Refor ...

Eastman Kodak Company (NYSE:KODK) Q2 2020 Earnings Conference Call August 11, 2020 5:00 PM ET Company Participants Paul Dils - Chief Tax Officer, Director of Investor Relations Jim Continenza - Executive Chairman David Bullwinkle - CFO Conference Call Participants Operator Ladies and gentlemen, thank you for standing by. Welcome to the Eastman Kodak Second Quarter 2020 Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions] It is now my pleasure to introduce Paul D ...

[Part I - Financial Information](index=3&type=section&id=Part%20I.%E2%80%94Financial%20Information) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The company reported a significant revenue decline and net loss for H1 2020, raising substantial doubt about its ability to continue as a going concern Consolidated Statement of Operations Summary (in millions) | Metric | Three Months Ended June 30, 2020 | Three Months Ended June 30, 2019 | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | $213 | $307 | $480 | $598 | | **Gross Profit** | $21 | $42 | $57 | $82 | | **Loss from Continuing Operations** | $(5) | $(6) | $(116) | $(18) | | **Net (Loss) Income** | $(5) | $201 | $(116) | $183 | | **(Loss) Income Per Share (Diluted)** | $(0.23) | $4.56 | $(2.88) | $4.02 | Consolidated Statement of Financial Position Summary (in millions) | Metric | June 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | **Total Current Assets** | $589 | $706 | | **Total Assets** | $1,160 | $1,415 | | **Total Current Liabilities** | $275 | $368 | | **Total Liabilities** | $1,004 | $1,134 | | **Total Shareholders' (Deficit) Equity** | $(30) | $99 | Consolidated Statement of Cash Flows Summary (in millions) | Metric | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | | **Net Cash Used in Operating Activities** | $(64) | $(13) | | **Net Cash (Used in) Provided by Investing Activities** | $(5) | $297 | | **Net Cash Used in Financing Activities** | $(6) | $(294) | | **Net Decrease in Cash** | $(78) | $(9) | - The company's ability to continue as a going concern is in **substantial doubt** due to a history of negative operating cash flow, upcoming debt maturities, and pandemic-related challenges[20](index=20&type=chunk)[25](index=25&type=chunk) - Subsequent to the quarter end, holders converted **$95 million of convertible notes into 29,922,956 shares of common stock**, discharging the majority of the notes[26](index=26&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes poor performance to COVID-19, discusses cost-saving measures, and highlights the uncertain potential $765 million DFC loan - The **COVID-19 pandemic had a material impact on sales**, prompting cost-reduction measures that saved approximately **$12 million** in Q2 2020[164](index=164&type=chunk) - On July 28, 2020, the U.S. DFC signed a non-binding letter of interest for a potential **$765 million loan** to launch Kodak Pharmaceuticals, but there is no assurance the loan will be approved[161](index=161&type=chunk)[168](index=168&type=chunk) - Effective January 1, 2020, Kodak changed its organizational structure to **four new reportable segments**: Traditional Printing, Digital Printing, Advanced Materials and Chemicals, and Brand[129](index=129&type=chunk)[168](index=168&type=chunk) [Results of Operations](index=46&type=section&id=Results%20of%20Operations) Q2 2020 revenues and gross profit declined significantly due to the pandemic, though cost-cutting measures reduced SG&A expenses Consolidated Results of Operations (in millions) | Metric | Q2 2020 | Q2 2019 | $ Change | YTD 2020 | YTD 2019 | $ Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Revenues** | $213 | $307 | $(94) | $480 | $598 | $(118) | | **Gross Profit** | $21 | $42 | $(21) | $57 | $82 | $(25) | | **SG&A Expenses** | $34 | $54 | $(20) | $82 | $113 | $(31) | | **Loss from Continuing Operations** | $(5) | $(6) | $1 | $(116) | $(18) | $(98) | - The Q2 2020 revenue decline of **$94 million** was driven by volume and pricing declines in Traditional Printing ($57M and $3M) and volume declines in other key segments[197](index=197&type=chunk) - SG&A expenses decreased by **$20 million in Q2 2020** and $31 million YTD, reflecting reduced investments and cost-saving initiatives like furloughs and pay cuts[201](index=201&type=chunk) [Segment Analysis](index=48&type=section&id=Segment%20Analysis) All segments saw revenue declines due to COVID-19, with Traditional Printing most affected, while cost controls improved operational losses in other segments Segment Revenues (in millions) | Segment | Q2 2020 | Q2 2019 | % Change | | :--- | :--- | :--- | :--- | | Traditional Printing | $119 | $181 | -34.3% | | Digital Printing | $52 | $69 | -24.6% | | Advanced Materials and Chemicals | $38 | $52 | -26.9% | | Brand | $2 | $2 | 0.0% | Segment Operational EBITDA (in millions) | Segment | Q2 2020 | Q2 2019 | $ Change | | :--- | :--- | :--- | :--- | | Traditional Printing | $1 | $9 | $(8) | | Digital Printing | $(3) | $(4) | $1 | | Advanced Materials and Chemicals | $(7) | $(8) | $1 | | Brand | $2 | $2 | $0 | - Traditional Printing's revenue decline of **$62 million** in Q2 was driven by volume and pricing declines in Prepress Solutions consumables due to lower customer demand[207](index=207&type=chunk) - Advanced Materials and Chemicals revenue fell **$14 million** in Q2, mainly from a **$10 million** volume decline in Motion Picture as productions halted[218](index=218&type=chunk) [Liquidity and Capital Resources](index=45&type=section&id=Liquidity%20and%20Capital%20Resources) The company faces significant liquidity challenges and going concern doubts, with falling cash reserves and upcoming debt and preferred stock maturities - The company faces **liquidity challenges and substantial doubt** about its ability to continue as a going concern due to operating losses and upcoming 2021 maturities[241](index=241&type=chunk)[243](index=243&type=chunk) - As of June 30, 2020, Kodak held **$95 million of its cash in the U.S.** and $85 million outside the U.S, with foreign cash not readily available for transfer[21](index=21&type=chunk)[250](index=250&type=chunk) - In July 2020, the company paid **$11 million in preferred stock dividends** that were in arrears[259](index=259&type=chunk) Cash Flow Summary - Six Months Ended June 30 (in millions) | Cash Flow Activity | 2020 | 2019 | | :--- | :--- | :--- | | Net cash used in operating activities | $(64) | $(13) | | Net cash (used in) provided by investing activities | $(5) | $297 | | Net cash used in financing activities | $(6) | $(294) | [Controls and Procedures](index=58&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2020, with no material changes during the quarter - Management, including the Executive Chairman and CFO, evaluated the company's disclosure controls and procedures and concluded they were **effective as of June 30, 2020**[264](index=264&type=chunk) - There were **no material changes** in Kodak's internal control over financial reporting during the second quarter of 2020[265](index=265&type=chunk) [Part II - Other Information](index=59&type=section&id=Part%20II.%20%E2%80%94Other%20Information) [Legal Proceedings](index=59&type=section&id=Item%201.%20Legal%20Proceedings) The company faces ongoing tax litigation in Brazil and new investigations by the SEC and congressional committees related to the potential DFC loan - Kodak's Brazilian operations are involved in tax litigation with claims of approximately **$110 million**, for which the company has accrued about **$3 million**[267](index=267&type=chunk) - The company is subject to **new investigations by several congressional committees and the SEC** related to the potential DFC Loan and its Pharmaceutical Initiative[269](index=269&type=chunk) [Risk Factors](index=59&type=section&id=Item%201A.%20Risk%20Factors) Key risks include the ongoing impact of COVID-19 and significant new uncertainties surrounding the potential, but unassured, $765 million DFC loan - The full impact of the **COVID-19 pandemic remains highly uncertain** and could have a material adverse effect on business operations, results, and financial position[270](index=270&type=chunk) - There is **no assurance the potential $765 million DFC loan will be consummated**, and failure to secure it could damage Kodak's reputation[271](index=271&type=chunk) - The company's **stock price has been and may continue to be volatile**, particularly in response to news about the potential DFC loan and related investigations[275](index=275&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=61&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered equity securities were sold, and no company equity was repurchased during the second quarter of 2020 - There were **no sales of unregistered securities or issuer purchases of equity securities** during the quarter ended June 30, 2020[277](index=277&type=chunk) [Exhibits](index=61&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including corporate governance documents, incentive plans, and required officer certifications - The exhibits filed with this report include corporate governance documents, incentive plans, and **required officer certifications under the Sarbanes-Oxley Act**[280](index=280&type=chunk)

Eastman Kodak Company (NYSE:KODK) Q1 2020 Earnings Conference Call May 12, 2020 8:30 AM ET Company Participants Paul Dils - Chief Tax Officer, Director of Investor Relations Jim Continenza - Executive Chairman David Bullwinkle - CFO Conference Call Participants Operator Ladies and gentlemen, thank you for standing by. Welcome to the Eastman Kodak Q1, 2020 Earnings Conference Call. At this time all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer ses ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2020 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-87 EASTMAN KODAK COMPANY (Exact name of registrant as specified in its charter) NEW JERSEY 16-0417150 (State of incorporation) (IRS Employer ...

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the year ended December 31, 2019 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to_____ Commission File Number 1-87 EASTMAN KODAK COMPANY (Exact name of registrant as specified in its charter) NEW JERSEY 16-0417150 (State of incorporation) (IRS Employer Identification ...