TheNewKodak

February 7, 2008

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The New Kodak  2 

The New Kodak  3 

The New Kodak

Antonio Perez

Chairman and CEO

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Program of Events

The New Kodak  5 

Key Messages of the New Kodak

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2007: Every Metric Met or Exceeded

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SuccessfullyDelivered 2007 StrategicImperatives

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New ReportingStructure: LeverageTraditionalAssets

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2008 DigitalPortfolio: Built to Grow

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2011DigitalPortfolio

Corporateaverage gross profit improves over the planning period

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2011TraditionalPortfolio:Viable Mid-Term

#1 marketpositions,smaller size, good cash generation

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The New Kodak: 2008 Revenue

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DigitalBusiness:Critical Mass and HealthyGrowth

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GeographicBalance:GlobalStability and Growth

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Balancing the Returns from IP Remains a Priority

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Surplus Cash Allocation 2008-2011

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2008 Key StrategicImperatives

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This is the New Kodak: 2008 FinancialTargets

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2008-2011: TargetBusiness Model

The New Kodak  Excludes restructuring/rationalization 21

A Shift TowardsAnnuitiesEnhances Gross Profit

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The Future of the New Kodak

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Traditional’s Staying Power

Mary Jane Hellyar

President, Film, Photofinishing & Entertainment Group
Executive Vice President, Eastman Kodak Company

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FPEG Key Messages

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FPEG Key Accomplishments

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The FPEG Portfolio

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RevenueDecline Rate Stabilizes,
Driven by Shift in Portfolio Mix

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FPEG TargetBusiness Model

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TraditionalPhotofinishing:
Focus on MarginExpansion

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     EntertainmentImaging:
A Year of Solid Results for Kodak

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CinemaScreens are BroadlyDistributed & Growing

The New Kodak  2007 Estimated WW First-Run Screens = 88,000 32

D-CinemaAdoption Still in Early Stages

The New Kodak  SOURCE: Screen Digest 2007 Forecast 33

Origination Film Transitioning at Measured Pace

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FPEG 2008 Operational Goals

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FPEG Key Messages

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Digital Growth

Phil Faraci

President & Chief Operating Officer

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Progress to Date with the Digital Businesses

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Graphic Communications
Group

Growth to Outpace the Market

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2007 Performance: GCG

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Kodak Participates in Strong & GrowingMarkets

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MarketDriversFuelingKodak’sProfitableGrowth

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GCGPortfolio
Large, profitableposition in Capture & Prepress, growth in Digital Print & EnterpriseSolutions

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KODAKSTREAMBreakthroughTechnology

Introduction at Drupa ‘08

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KODAKSTREAMBreakthroughTechnology

Introduction at Drupa ‘08

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KODAKSTREAMContinuous Inkjet Printing

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MakingProgressToward Target Model

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Solid Business Model

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Consumer Digital Group

Growth to Outpace the Market

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Key Messages

Strong performance in 2007

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2007 Performance: CDG

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Well Positioned in Higher Growth Digital Markets

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MarketDrivers of Kodak’sGrowth

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WellPositioned in “ConnectedImaging”
Connectingpersonalcontent to the TV, mobile device, PC and retail commercial hubs

The New Kodak  57 

CDG Portfolio
Broad footprint with Cameras & Kiosks, high growth with CMOS, Inkjet printers & Connected Imaging

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Kodak CMOS Redefines Mobile Quality
5 mp, ¼” CMOS Sensor

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Inkjet’s Breakthrough Value Broadly Accepted

The New Kodak	* SOURCE: NPD, does not include Mass, Direct	60
	channels

Making Progress Toward Target Model

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Solid Business Model

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The Growth Model

Frank Sklarsky

Chief Financial Officer

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Agenda

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2007 Financial Results

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“Mission Accomplished”

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Achieved All 2007 Key Metrics

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Our Corporate Restructuring is Complete

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Exceeded Cash Goals

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Bridging the Change

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Building Transparency into our Digital Businesses
The New Reporting Structure (effective 1/1/08)

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New Operating Structure – 2007 Breakdown

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2008 Priorities & Financial Model

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2008 Priorities

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Review of Key Trends Under New Structure

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2008 Business Model

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2008 Financial Targets

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How Should We Think About
Net Earnings for 2008?

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2008 Cash Generation

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Significant Improvement in Operating Cash Flow
2008 Cash Flow Plan

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Outlook for 2008 Taxes

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Ample Liquidity Provides Significant Flexibility

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Looking Forward …
Target Business
Model

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Driving Digital Businesses Drives
Overall Revenue Growth

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2011 Business Model

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Target Business Model

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Ramping Cash Flow

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Capital Allocation and
Value Creation

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Capital Allocation Philosophy

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Key Criteria for Inorganic Investments

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Key Takeaways

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