2021 Guidance Update

2021 BALANCED CAPITAL DEPLOYMENT Expect to Deploy At Least $2.5B in Balanced Capital Allocation in FY 2021; ~$1.8B Deployed YTD Balanced Capital Deployment FY 2021 Outlook - Balanced capital deployment of $1.8B YTD; well-positioned to deploy a minimum $2.5B in FY 2021 M&A pipeline remains active (channel and technology) Farrar Scientific closed mid-October Shares remain attractive, trading below intrinsic value YTD* 2021 FY 2021 Dividends** $0.4B ~$0.6B Acquisitions and investments $0.4B ~$1.5B+ Share repurchases • $0.6B Debt retirement $0.4B -$0.4B Total Capital Deployed -$1.8B ~$2.5B+ * YTD capital deployment through November 3, 2021 ** Quarterly dividend increased in 2021 by 11% to $2.36 per share annualized Note: Information as of November 3, 2021 --- NOT AN UPDATE OR REAFFIRMATION TRANE TECHNOLOGIES 31

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