Investor Presentation December 2019

Indexed Total Return David Cote's Track Record of Creating Value Honeywell Public Market Performance During Cote's Tenure Honeywell Total Shareholder Return 5 ("TSR") During Cote's Tenure 1,200% TSR Summary ■ HON ■ S&P500 797% 321% 1,000% (32)% (3)% 800% Pre Cote (5 Years)1 Since Jan-20032 635% 600% 400% 200% Overview Focus on delivering shareholder value Total shareholder return of 797% 2,5 Increased market cap by $92bn to $112bn or 5.7x² 797% Robust return of capital to shareholders 430% 383% 321% 260% Mar-2017 0% Jan-2003 Jan-2006 -Honeywell Jan-2009 Jan-2012 -Industrial Comps³ Jan-2015 Apr-2018 S&P 500 Source: Bloomberg as of 18-Apr-2018 VERTIV $9bn in share repurchases and ~$9bn in dividends over the last five years ended Dec-20174 Ability to drive returns in slow macro environments Market Cap Improvement ($bn)² Apr-2018 Jan-2003 $20 5.7 x $112 Note: An investment in GS Acquisition Holdings Corp is not an investment in Honeywell. The historical results of Honeywell are not indicative of future performance of GS Acquisition Holding Corp. 1 Illustrative mid-term perspective for the period from 01-Jan-1998 to 31-Dec-2002. 2 For the period from 01-Jan-2003 to 18-Apr-2018. 2003 was the first full year David Cote was CEO of Honeywell. David Cote served as CEO until Mar-2017 and remained non-Executive Chairman of 35 Honeywell until Apr-2018. 3 Illustrative industrial comps includes Danaher, Emerson, 3M, ITW, IR, UTC, GE, Eaton and JCI. 4 Illustrative period for a mid-term perspective. 5 Total shareholder return (TSR) is calculated as the capital gain plus dividends.

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