Kodak announced the completion of the pension reversion process for the $1.023 billion in excess assets held in the company-funded Kodak Retirement Income Plan (KRIP), marking the final step in the transition of the longstanding pension program. The reversion delivers a substantial financial boost to the company while ensuring all retirement obligations to U.S. pension plan participants remain fully protected.

Approximately $767 million of excess KRIP assets reverted to Kodak, including $609 million in cash and $158 million in non-cash assets. Of these proceeds, the company has used $312 million to pre-pay term loans, reducing its outstanding balance to $200 million. After excise taxes on the reverted assets, Kodak now holds more than $300 million in net cash, placing the company in a significantly stronger financial position.

Kodak also confirmed that all KRIP participant obligations have been fully settled. To support current U.S.-based employees, the company has established and fully funded a new defined benefit plan, the Kodak Cash Balance Plan (KCBP). Powered by $251 million in investment assets and $5 million in cash, the KCBP will continue to offer the same benefits as those previously provided under the KRIP cash balance feature, with no additional near-term funding required from the company.

“Thanks to the rigorous planning and diligent execution of our team and advisors, we continue to strengthen our financial foundation,” said Jim Continenza, Executive Chairman and CEO of Kodak. “This transaction reduces our debt and ongoing interest expense, freeing us to focus on unlocking the full potential of our company and creating value for our employees, shareholders, and customers.”

Kodak’s improved financial flexibility, alongside a substantially reduced debt load and lower interest obligations, supports the company’s long-term growth strategy and operational stability. Further details are available in Kodak’s Form 8-K filed with the U.S. Securities and Exchange Commission on December 2, 2025.