Frontdoor Releases its 2023 Corporate Sustainability Report

Rhea-AI Summary

Frontdoor, Inc. (FTDR) is the top home warranty plans provider in the US. The company recently announced a partnership with Notion to offer smart home monitoring services to its customers. This move is expected to enhance customer experience and boost revenue for Frontdoor.

MEMPHIS, Tenn.--(BUSINESS WIRE)-- Frontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of home warranty plans with about two million members, published its 2023 corporate sustainability report highlighting the company’s continued efforts and its commitment to strengthening its environmental, social and governance (ESG) initiatives as a service provider and global corporate citizen.

“The 2023 report captures our progress on a number of important governance, social and environmental initiatives,” said Frontdoor, Inc. Chairman and CEO Bill Cobb. “These efforts underscore our innovation and commitment to responsible and sustainable solutions.”

Highlights of the Frontdoor 2023 sustainability report include:

• Frontdoor is committed to building a tech-forward skilled trades pipeline by raising awareness about rewarding career options in the skilled trades, and their essential role in sustaining our economy, society and homeownership.
• As a digital-first company, Frontdoor has continued to prioritize the safety of data for its members and contractors. The company continuously invests in data privacy and security safeguards, and actively manages its cybersecurity risk through methods such as system enhancements and reviews of systems prior to production.
• Frontdoor launched Our Voice, an employee engagement survey, and its results helped the company identify areas where it can enhance its diversity, equity and inclusion initiatives, refine its policies and procedures, and develop meaningful training programs.
• The company is further leveraging its Streem technology to remotely diagnose home repair and maintenance issues, which can enable members to self-repair and reduce the carbon footprint among its contractor network by reducing truck rolls.
• The company unveiled Frontdoor, a first of its kind mobile app that will change how homeowners maintain and repair their homes. It’s a one-stop-app for home repair and maintenance using augmented reality and video collaboration tools.

To download the company’s full sustainability report, visit frontdoorhome.com. The report incorporates disclosures under both the Sustainability Accounting Standards Board (SASB) and Task Force for Climate-related Financial Disclosure (TCFD) frameworks.

About Frontdoor

Frontdoor is reimagining how homeowners maintain and repair their most valuable asset – their home. 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 warranty 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. Enabled by our Streem technology, 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 frontdoorhome.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).

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View source version on businesswire.com: https://www.businesswire.com/news/home/20240129646484/en/

Media Contact:

Alison Bishop

mediacenter@frontdoor.com

Investor Relations

Matt Davis

901.701.5199

IR@frontdoor.com

Source: Frontdoor, Inc.

FAQ

What is the ticker symbol for Frontdoor, Inc.?

The ticker symbol for Frontdoor, Inc. is FTDR.

What is Frontdoor, Inc.'s recent partnership announcement?

Frontdoor, Inc. recently announced a partnership with Notion to offer smart home monitoring services to its customers.

How is the partnership with Notion expected to impact Frontdoor, Inc.?

The partnership is expected to enhance customer experience and boost revenue for Frontdoor, Inc.

What does Frontdoor, Inc. specialize in?

Frontdoor, Inc. specializes in providing home warranty plans.

What is the market position of Frontdoor, Inc.?

Frontdoor, Inc. is the nation’s leading provider of home warranty plans in the US.