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CORRECTING and REPLACING Frontdoor, Inc. Expands Agreement With Moen to 7 Additional States

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Frontdoor (NASDAQ: FTDR) has expanded its agreement with Moen to install the Moen Flo Smart Water Monitor and Shutoff valve in seven additional states: Arizona, Utah, Idaho, Oregon, Texas, Georgia and South Carolina, effective November 1. This expansion follows an earlier agreement for installations in California.

The Moen Flo device monitors water usage, detects leaks, and automatically shuts off water when catastrophic leaks are identified. The system can help reduce water damage claim frequency by up to 96%. As part of the agreement, customers will receive a free one-year Frontdoor Unlimited membership, providing access to video consultations with plumbing experts and in-person service scheduling through Frontdoor's contractor network.

Frontdoor (NASDAQ: FTDR) ha ampliato il suo accordo con Moen per installare il Moen Flo Smart Water Monitor e la valvola di arresto in sette stati aggiuntivi: Arizona, Utah, Idaho, Oregon, Texas, Georgia e Carolina del Sud, a partire dal 1° novembre. Questa espansione segue un accordo precedente per le installazioni in California.

Il dispositivo Moen Flo monitora il consumo d'acqua, rileva perdite e chiude automaticamente l'acqua quando vengono identificate perdite catastrofiche. Il sistema può contribuire a ridurre la frequenza delle richieste di risarcimento per danni causati dall'acqua fino al 96%. Nell'ambito dell'accordo, i clienti riceveranno un abbonamento gratuito di un anno a Frontdoor Unlimited, che offre accesso a consultazioni video con esperti idraulici e programmazione di servizi in persona tramite la rete di appaltatori di Frontdoor.

Frontdoor (NASDAQ: FTDR) ha ampliado su acuerdo con Moen para instalar el Moen Flo Smart Water Monitor y la válvula de cierre en siete estados adicionales: Arizona, Utah, Idaho, Oregón, Texas, Georgia y Carolina del Sur, a partir del 1 de noviembre. Esta expansión sigue a un acuerdo anterior para instalaciones en California.

El dispositivo Moen Flo monitorea el uso de agua, detecta fugas y cierra automáticamente el agua cuando se identifican fugas catastróficas. El sistema puede ayudar a reducir la frecuencia de las reclamaciones por daños por agua hasta en un 96%. Como parte del acuerdo, los clientes recibirán una membresía gratuita de un año a Frontdoor Unlimited, que proporciona acceso a consultas por video con expertos en fontanería y la programación de servicios en persona a través de la red de contratistas de Frontdoor.

Frontdoor (NASDAQ: FTDR)Moen과 협력하여 추가 7개 주: 애리조나, 유타, 아이다호, 오리건, 텍사스, 조지아 및 사우스캐롤라이나에서 Moen Flo 스마트 워터 모니터 및 차단 밸브를 설치하기로 계약을 확대했습니다. 해당 계약은 11월 1일부터 시행됩니다. 이번 확장은 캘리포니아에서의 설치에 대한 이전 계약에 따른 것입니다.

Moen Flo 장치는 물 사용량을 모니터링하고, 누수를 감지하며, 치명적인 누수가 식별될 경우 자동으로 물을 차단합니다. 이 시스템은 물 피해 청구 빈도를 최대 96%까지 줄이는 데 도움을 줄 수 있습니다. 계약의 일환으로 고객은 배관 전문가와의 비디오 상담 및 Frontdoor 계약자 네트워크를 통한 대면 서비스 예약을 제공하는 무료 1년 Frontdoor Unlimited 멤버십을 받게 됩니다.

Frontdoor (NASDAQ: FTDR) a élargi son accord avec Moen pour installer le Moen Flo Smart Water Monitor et la vanne d'arrêt dans sept États supplémentaires: Arizona, Utah, Idaho, Oregon, Texas, Géorgie et Caroline du Sud, à compter du 1er novembre. Cette expansion fait suite à un accord antérieur pour les installations en Californie.

Le dispositif Moen Flo surveille la consommation d'eau, détecte les fuites et ferme automatiquement l'eau lorsqu'une fuite catastrophe est identifiée. Ce système peut contribuer à réduire la fréquence des demandes de dommages dus à l'eau jusqu'à 96 %. Dans le cadre de l'accord, les clients recevront une adhésion gratuite d'un an à Frontdoor Unlimited, offrant un accès à des consultations vidéo avec des experts en plomberie et à la planification de services en personne via le réseau de sous-traitants de Frontdoor.

Frontdoor (NASDAQ: FTDR) hat seine Vereinbarung mit Moen ausgeweitet, um den Moen Flo Smart Water Monitor und das Absperrventil in sieben weiteren Bundesstaaten: Arizona, Utah, Idaho, Oregon, Texas, Georgia und South Carolina ab dem 1. November zu installieren. Diese Erweiterung folgt einer früheren Vereinbarung für Installationen in Kalifornien.

Das Moen Flo-Gerät überwacht den Wasserverbrauch, erkennt Lecks und schaltet das Wasser automatisch ab, wenn katastrophale Lecks erkannt werden. Das System kann die Häufigkeit von Wasserschädenforderungen um bis zu 96 % reduzieren. Im Rahmen der Vereinbarung erhalten die Kunden ein kostenloses einjähriges Frontdoor Unlimited-Abonnement, das Zugang zu Video-Konsultationen mit Sanitärfachleuten und die Planung von Vor-Ort-Serviceleistungen über das Vertragspartnernetzwerk von Frontdoor ermöglicht.

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MEMPHIS, Tenn.--(BUSINESS WIRE)-- First paragraph, first sentence of release should read: Frontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of home warranties, today announced it is expanding its agreement with Moen to install Moen Flo Smart Water Monitor and Shutoff, a water shut-off valve, in seven new states for customers who purchase Flo as part of certain marketing programs with home insurance providers.

The updated release reads:

FRONTDOOR, INC. EXPANDS AGREEMENT WITH MOEN TO 7 ADDITIONAL STATES

Frontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of home warranties, today announced it is expanding its agreement with Moen to install Moen Flo Smart Water Monitor and Shutoff, a water shut-off valve, in seven new states for customers who purchase Flo as part of certain marketing programs with home insurance providers. Leak detection and shut-off valves are now required by selected insurance providers in certain states. The Moen Flo device is designed to monitor water use, detect even small leaks, and will automatically shut off water to the home if a catastrophic leak is identified.

Under the new agreement, effective November 1, Frontdoor will provide installations in Arizona, Utah, Idaho, Oregon, Texas, Georgia and South Carolina. This is in addition to an agreement signed earlier this year to perform installations in California.

“We are delighted to expand our agreement with Moen beyond California,” said Frontdoor, Inc. Chief Revenue Officer Kathy Collins. “This is a great opportunity to leverage our network of independent contractors and drive our on-demand revenue model.”

“The goal of this agreement is to reduce insurance claims related to catastrophic water damage from residential leaks. The Moen device offers a digitally driven and proactive approach to leak detection, with the ability to help reduce water damage claim frequency by as much as 96%*,” said Jeff Barnes, vice president of business development for Moen Smart Water. “The expansion of our relationship with Frontdoor allows us to bring a full Water Protection Service, including Flo installation – to even more homeowners.”

Under the new agreement, in addition to performing the installations, Moen Flo customers will also receive a Frontdoor Unlimited membership free for a full year. Frontdoor is an app for all things home repair and maintenance. If the Flo Shutoff detects a leak, customers can quickly get help during normal business hours by video chatting with a Frontdoor plumbing Expert, or if in-person help is needed, they can schedule service through Frontdoor’s extensive network of independent contractors.

For more information on Moen’s Flo Shutoff, go to Moen.com/Flo. For information on partnering with Moen, email Partnerships@moen.com.

*Results from the 2020 LexisNexis Study can be found here.

About Frontdoor, Inc.

Frontdoor is reimagining how homeowners maintain and repair their most valuable asset – their home. As the parent company of two leading brands, we bring over 50 years of experience in providing our members with comprehensive options to protect their homes from costly and unexpected breakdowns through our extensive network of pre-qualified professional contractors. American Home Shield, the category leader in home service plans with approximately two million members, gives homeowners budget protection and convenience, covering up to 23 essential home systems and appliances. Frontdoor is a cutting edge, one- stop app for home repair and maintenance. The app empowers homeowners by connecting them in real time through video chat with pre-qualified experts to diagnose and solve their problems. The Frontdoor app also offers homeowners a range of other benefits including DIY tips, discounts and more. For more information about American Home Shield and Frontdoor, please visit www.frontdoorhome.com.

About Moen

Moen is the #1 consumer faucet brand in North America, offering a vast array of stylish and innovative kitchen and bath faucets, showerheads, accessories, bath safety products, kitchen sinks, garbage disposals, leak detection products and connected home offerings for residential applications that give consumers more power than ever before to understand and control the water that flows through their homes. These thoughtful designs deliver an exceptional user experience and elevate how people interact with water daily. In addition, Moen® Commercial offers superior-performing products that can deliver lower lifetime costs for today’s facilities. Moen is part of Fortune Brands Innovations, Inc. (NYSE: FBIN), a brand, innovation and channel leader focused on exciting, supercharged categories in the home products, security and commercial building markets. Moen anchors Water Innovations (WINN), which also includes several brands under the House of Rohl® including Perrin & Rowe®, ROHL®, Riobel®, Shaws® and Victoria + Albert®. Fortune Brands’ other brands include Fiberon® composite decking and railing products; Master Lock®, Yale® residential, August® and Sentry® Safe security products; LARSON® storm doors and Therma-Tru® entry door systems. For more information, please visit www.FBIN.com.

Forward Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and beliefs, as well as a number of assumptions concerning future events. These statements are subject to risks, uncertainties, assumptions and other important factors. Readers are cautioned not to put undue reliance on such forward-looking statements because actual results may vary materially from those expressed or implied. The reports filed by Frontdoor pursuant to United States securities laws contain discussions of these risks and uncertainties. Frontdoor assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are advised to review Frontdoor's filings with the United States Securities and Exchange Commission (which are available on the SEC's EDGAR database at www.sec.gov and via Frontdoor’s website at investors.frontdoorhome.com).

Tom Collins

816.500.0336

Source: Frontdoor, Inc.

FAQ

Which new states did Frontdoor (FTDR) add to its Moen installation agreement?

Frontdoor added seven new states: Arizona, Utah, Idaho, Oregon, Texas, Georgia and South Carolina, effective November 1.

What benefits do customers get with the Frontdoor-Moen agreement?

Customers receive a free one-year Frontdoor Unlimited membership, access to video consultations with plumbing experts, and installation services for the Moen Flo Smart Water Monitor and Shutoff valve.

How effective is the Moen Flo device in preventing water damage?

According to the press release, the Moen Flo device can help reduce water damage claim frequency by up to 96%.

When does Frontdoor's expanded Moen installation agreement take effect?

The expanded agreement takes effect on November 1.

Frontdoor, Inc.

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