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The ODP Corporation Announces Major Milestone Agreement with Leading Hospitality Management Company Becoming Key Supplier and Distribution Partner

1. ODP partners with a major hotel management organization for OS&E services. 2. The hospitality sector represents a $60 billion market opportunity for ODP. 3. New offerings include linens, beauty products, and in-room technology. 4. ODP aims to leverage expertise in hospitality and adjacent sectors.

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FAQ

Why Bullish?

Partnership may increase revenue opportunities in a growing market segment, similar to past product expansions that boosted growth.

How important is it?

Growth in the hospitality sector could significantly enhance ODP's market positioning and revenue outlook.

Why Long Term?

This strategic partnership sets the foundation for future growth, akin to ODP's historical expansions into new markets.

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ODP
BOCA RATON, Fla.--(BUSINESS WIRE)--The ODP Corporation (NASDAQ:ODP) (“ODP,” or the “Company”), a leading provider of products, services and technology solutions to businesses and consumers, today announced a major milestone in its B2B evolution as its subsidiary, ODP Business Solutions, entered into a key new partnership with one of the world’s largest hotel management organizations becoming a preferred provider for Operating Supplies & Equipment (OS&E). Through this agreement, ODP Business Solutions will become a strategic distribution partner to reliably support the in-room hotel supply needs necessary to run operations and meet their customers’ expectations. This product expansion and strategic partnership reflects ODP Business Solutions’ continued evolution beyond office supplies and highlights the company’s ability to leverage its capabilities and offerings to elevate the experience to businesses in the hospitality, healthcare and adjacent sectors. “Our expansion in the hospitality market is a strategic step forward, leveraging our expertise to offer the service and compliance standards that customers in this space demand,” said David Centrella, executive vice president of The ODP Corporation and president of ODP Business Solutions. “This milestone aligns perfectly with our commitment to providing broad, comprehensive solutions and solidifies our position as a trusted partner in this dynamic and growing industry sector.” “This agreement represents a major inflection point in our company’s history, positioning ODP to pursue growth in new and growing industry segments where our core competencies resonate,” said Gerry Smith, chief executive officer of the ODP Corporation. “The hospitality sector, combined with other adjacent industry segments, represents a $60 billion market opportunity for ODP Business Solutions to showcase its next-day delivery, high-level customer service and national supply chain coverage to a growing industry base. ODP Business Solutions will help hotels elevate their linen and towel service by providing high-quality textiles for bed and bath. It will also distribute liquid beauty products and lodging kits, all uniquely packaged to accommodate the needs of every client and guest. The expansion of their product portfolio also includes hotel room technology and in-room amenities. “These offerings reflect our commitment to delivering trusted brands and products which perfectly supports the curated experience we deliver to our customers every day and across every industry,” said Nisha Brown, vice president of marketing & product management at ODP Business Solutions. ODP Business Solutions will continue leveraging existing categories in cleaning, breakroom, food and safety and will focus on adding new categories to meet the needs of its hospitality customers across all business verticals. As a trusted provider of Operating Supplies & Equipment (OS&E), ODP Business Solutions’ vast portfolio supports an array of industries including education, healthcare, manufacturing and more. To learn more about ODP Business Solutions, visit odpbusiness.com. Learn more about The ODP Corporation at theodpcorp.com. About ODP Business Solutions: ODP Business Solutions is a trusted partner with more than 30 years of experience working with businesses to adapt to the ever-changing world of work. From technology transformation, sustainability, innovative workspace design, cleaning and breakroom, and everything in between, ODP Business Solutions has the integrated products and services businesses need. Powered by a collaborative team of experienced business consultants, world-class logistics, and trusted brand names, ODP Business Solutions advances how the working world gets work done. For more information on ODP Business Solutions, visit www.odpbusiness.com. ODP Business Solutions is a division of The ODP Corporation (NASDAQ: ODP). ODP and ODP Business Solutions are trademarks of ODP Business Solutions, LLC. Any other product or company names mentioned herein are the trademarks of their respective owners. About The ODP Corporation The ODP Corporation (NASDAQ:ODP) is a leading provider of products and services through an integrated business-to-business (B2B) distribution platform and omnichannel presence, which includes world-class supply chain and distribution operations, dedicated sales professionals, online presence and a network of Office Depot and OfficeMax retail stores. Through its operating companies Office Depot, LLC; ODP Business Solutions, LLC; and Veyer, LLC, The ODP Corporation empowers every business, professional, and consumer to achieve more every day. For more information, visit theodpcorp.com. ODP and ODP Business Solutions are trademarks of ODP Business Solutions, LLC. Office Depot is a trademark of The Office Club, LLC. OfficeMax is a trademark of OMX, Inc. Veyer is a trademark of Veyer, LLC. ©2024 Office Depot, LLC. All rights reserved. Any other product or company names mentioned herein are the trademarks of their respective owners. FORWARD LOOKING STATEMENTS – THE ODP CORPORATION This communication may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations, cash flow or financial condition, or state other information relating to, among other things, The ODP Corporation (“the Company”), based on current beliefs and assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “expectations”, “outlook,” “intend,” “may,” “possible,” “potential,” “predict,” “project,” “propose” “aim” or other similar words, phrases or expressions, or other variations of such words. These forward-looking statements are subject to various risks and uncertainties, many of which are outside of the Company’s control. There can be no assurances that the Company will realize these expectations or that these beliefs will prove correct, and therefore investors and stakeholders should not place undue reliance on such statements. Investors and shareholders should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission. The Company does not assume any obligation to update or revise any forward-looking statements.

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