First-Quarter 2019 Results

Healthy End Markets - No Significant Change to Expectations Commercial HVAC Residential HVAC Transport . Major CHVAC markets remain positive – cont'd solid bookings and revenue growth - N.A. and Europe growth strong, outlook remains healthy China demand strengthened throughout qtr, flat-ish growth against tough prior year comps 2019 CHVAC global outlook strength continues w/ LSD - MSD mkt growth expected; key economic indicators remain broadly supportive • HSD order growth; LSD revenue growth against tough compares (low-teens) in Q1 '18 Entering cooling season, solid demand outlook led by replacement market • Economic indicators point to cont'd healthy mkts in Resi in 2019; LSD - MSD mkt growth ⚫ Global Transport business diversified and resilient across trailer, truck, APU, aftermarket Transport backlog remains very high; sufficient backlog to meet growth objectives in 2019 . • N.A. mkt remains strong; healthy outlook into 2020 European transport markets soft as expected, closely monitoring; Brexit uncertainty • LSD - MSD mkt revenue growth expected in 2019 (B) Ingersoll Rand. Note: Information as of April 30, 2019 --- NOT AN UPDATE OR REAFFIRMATION 22 22

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