2021 Guidance Update

INITIAL 2022 OUTLOOK Record Backlogs, Secular Megatrends & Continued Economic Recovery Support Strong 2022 Outlook Record Backlogs, Strong Price Realization and Cost Savings Entering 2022 • Backlog up 70%+ in Americas, EMEA, ~20% up in Asia Pacific • Continued strong price realization driven by innovation, business operating system • Transformation savings driving high levels of business reinvestment, innovation Strong Secular Megatrends Aligned with Sustainability Strategy Decarbonization of built environment still in early stages and accelerating • Indoor air quality momentum continues • U.S. education upgrade stimulus Global Economic Recovery Continues • Non-residential markets improving with ABI over 50 for several months; cont'd recovery in office, hospitality and other verticals • Transport refrigeration industry outlook remains strong in both North America and Europe with continued growth in 2022 and 2023 Material inflation, tight labor markets, constrained supply chain and logistics systems to be actively managed Note: Information as of November 3, 2021 - NOT AN UPDATE OR REAFFIRMATION --- TRANE TECHNOLOGIES 23

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