Kodak Q1 Report 2022

Reported financial results for the first quarter 2022, including consolidated revenues of $290 million and continued growth in key product areas such as KODAK SONORA Process Free Plates and KODAK PROSPER System annuities.

First-quarter 2022 highlights include:

• Consolidated revenues of $290 million, compared with $265 million for Q1 2021
• GAAP net loss of $3 million, compared with net income of $6 million for Q1 2021
• Operational EBITDA of negative $7 million, compared with $3 million for Q1 2021
• A quarter-end cash balance of $309 million, compared with $362 million at the end of 2021

For the quarter ended March 31, 2022, revenues were $290 million, an improvement of $25 million compared to the same period in 2021. The Company had a GAAP net loss of $3 million for the quarter, compared to net income of $6 million in the prior-year quarter. Operational EBITDA for the first quarter was negative $7 million, compared to $3 million in Q1 2021. Operational EBITDA was favorably impacted by the growth in revenue due to improved pricing and volume, offset by higher ongoing global cost increases. Kodak ended the first quarter with a cash balance of $309 million, a decrease of $53 million from December 31, 2021. The decrease is primarily attributable to the impact of higher costs, changes in working capital and increased capital investment.