Investing For Growth - New Products and Research

Nonresidential Commercial HVAC Market Nonresidential Commercial HVAC Market $30B Customized Market AAON $611M* • AAON's total addressable market is approximately 50x the size of the company. Historically, AAON and the customized rooftop market has been a niche of the industry. Customized market is positioned to take share as demand trends shift towards high performance equipment to meet indoor air quality, energy efficiency and decarbonization requirements. *Pro forma 2021 revenue includes full year from BASX Solutions, which was acquired in December 2021. 10

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