ADT Inc. Posts Lender Presentation for Repricing Transaction

Affirms 2020 Financial Outlook

Strong Residential Customer Demand Continued In Q4

BOCA RATON, Fla., Jan. 19, 2021 (GLOBE NEWSWIRE) -- ADT Inc. (NYSE: ADT) (the “Company” or “ADT”), a leading provider of security, automation, and smart home solutions serving consumer and business customers in the United States, announced today that Prime Security Services Borrower, LLC (“Prime Borrower”), an indirect wholly owned subsidiary of the Company, is providing a presentation to the lenders under its existing First Lien Credit Agreement, dated July 1, 2015, as subsequently amended and restated, in connection with the repricing of its First Lien Senior Secured Term Loan due 2026 (the “Repricing Transaction”). The Repricing Transaction is subject to market and other conditions, and may not occur as described or at all.

Affirms 2020 Financial Outlook

The Company is in the process of preparing its consolidated financial statements for the fourth quarter and full year ending December 31, 2020, and expects to release its final 2020 financial results near the end of February 2021.

On November 5, 2020, the Company updated its full year 2020 financial outlook by announcing an increase in its 2020 Total Revenue outlook to a range of $5,200 million to $5,350 million, an increase in its 2020 Adjusted EBITDA outlook to a range of $2,150 to $2,225 million, and an increase to the low end of its 2020 Adjusted Free Cash Flow outlook to a range of $650 million to $725 million.

While the Company’s 2020 closing procedures are ongoing and external audit reviews remain in process, the Company currently expects these measures to fall within their respective ranges.

The Company is not providing a quantitative reconciliation of its financial outlook for Adjusted EBITDA and Adjusted Free Cash Flow to net income (loss) and net cash provided by operating activities, which are their respective corresponding GAAP measures, because these GAAP measures that are excluded from the Company’s non-GAAP financial outlook are difficult to reliably predict or estimate without unreasonable effort due to their dependence on future uncertainties, such as special items discussed below under the heading — “Non-GAAP Measures—Adjusted EBITDA” and “Non-GAAP Measures—Adjusted Free Cash Flow.” Additionally, information that is currently not available to the Company could have a potentially unpredictable and potentially significant impact on its future GAAP financial results. Guidance excludes 3G and Code-Division Multiple Access (“CDMA”) radio conversion costs as disclosed in Footnote 2 to our press release furnished as Exhibit 99.1 to our Current Report on Form 8-K furnished with the Securities and Exchange Commission on November 5, 2020.