AKRON, Ohio, May 22, 2025 — Goodyear Tire & Rubber Company (NASDAQ: GT) (“Goodyear” or the “Company”) announced today that it has reached a definitive agreement to sell the majority of its Goodyear Chemical business to Gemspring Capital Management, LLC. This transaction is the result of a strategic review of Goodyear’s Chemical business that was previously announced as part of the Goodyear Forward transformation plan.

Goodyear Chemical is a leading manufacturer of synthetic rubber, offering a wide range of products in North America and serving the automotive aftermarket, as well as consumer and industrial markets. According to the agreement, Gemspring will pay Goodyear approximately $650 million in cash at closing, subject to certain adjustments after closing, for Goodyear Chemical facilities in Houston and Beaumont, Texas, and a related research office in Akron, Ohio. The transaction also includes a long-term supply agreement.

“The sale of our chemical business demonstrates our continued focus on optimizing our portfolio and increasing shareholder value,” said Goodyear Chief Executive Officer and President Mark Stewart. “We appreciate the contributions of our Goodyear Chemical associates, who have been instrumental in the success of this business. We will work closely with Gemspring to ensure a seamless transition for our associates, customers, and suppliers.”

The transaction requires regulatory approval and is subject to other standard closing conditions. It is anticipated to be completed by late 2025. Goodyear plans to use the proceeds from the transaction to reduce its debt and fund initiatives related to the Goodyear Forward transformation plan.

Goodyear will retain its Chemical facilities in Niagara Falls, New York, and Bayport, Texas, as well as its rights to the products manufactured at those facilities.

Advisors

Lazard is serving as the lead financial advisor, Deutsche Bank is serving as a financial advisor, and Squire Patton and Boggs is serving as legal advisor to Goodyear.

About The Goodyear Tire & Rubber Company

Goodyear is one of the world’s largest tire companies, employing approximately 68,000 people and manufacturing its products in 53 facilities across 20 countries. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, are dedicated to developing cutting-edge products and services that set the industry standard for technology and performance. For more information about Goodyear and its products, please visit .

Forward-Looking Statements

This news release includes forward-looking statements as defined in The Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange Act.

These forward-looking statements include, but are not limited to, statements concerning the proposed transaction, including statements regarding its benefits and expected timing, and information about the businesses of Goodyear and Gemspring. A number of factors, many of which are outside of our control, can affect our operations, performance, business strategy, and results, and could cause our actual results and experience to differ significantly from the assumptions, expectations, and objectives expressed in these forward-looking statements. These factors include, but are not limited to: our ability to successfully implement the Goodyear Forward plan and other strategic initiatives, including the sale of Goodyear Chemical; risks related to the ability to complete the sale of Goodyear Chemical on schedule or at all, including the failure to obtain necessary regulatory approvals or meet other closing conditions; actions and initiatives by current and potential competitors; increases in raw material and energy prices; inflationary cost pressures; delays or disruptions in our supply chain or services; a prolonged economic downturn or period of uncertainty; deteriorating economic conditions or inability to access capital markets; labor strikes, work stoppages, labor shortages, or similar events; financial difficulties, work stoppages, labor shortages, or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures; changes in tariffs, trade agreements, or trade restrictions; foreign currency translation and transaction risks; our failure to comply with a material covenant in our debt obligations; potential adverse consequences of litigation involving the Company; and the effects of more general factors, such as changes in market conditions, economic or political conditions, or legislation, regulation, or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. Furthermore, any forward-looking statements represent our estimates only as of today and should not be considered as representing our estimates as of any later date. While we may choose to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.

CONTACT:
DOUG GRASSIAN
330.796.3855

SOURCE The Goodyear Tire & Rubber Company

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