2021 Guidance Update

TOPICS OF INTEREST Transport Growth Outlook: ACT / IHS Projecting Continued Growth into 2022/23 50 40 30 20 10 North America Trailer Market Outlook 0 2015 2016 2017 2018 2019 2020 2021 2022* 2023* N.A. Trailer Build -9 yr Avg * Forecast shown in grey Source: ACT Note: Information as of November 3, 2021. N.A. / EMEA Strong Market Outlook into 2022/23 Underlying transport refrigeration demand remains strong 2021 N.A. OEM build capacity constrained for trailer/truck/APU Underlying demand pushing out to 2022 / 23. • ACT N.A. Trailer 2022/23 outlook strong, +18% and +14%, respectively ACT N.A. Truck/APU forecasts also strong; projecting double-digit growth in 2022/23 IHS forecasts modest Europe Trailer growth in 2022/23 Diversified Americas / EMEA transport businesses poised to outperform end-markets w/ cont'd innovation / execution --- NOT AN UPDATE OR REAFFIRMATION TRANE TECHNOLOGIES

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