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FIRST QUARTER 2024 EARNINGS RELEASE APRIL 25, 2024
1Q 2024 Earnings – April 25, 2024 1FORWARD LOOKING STATEMENTS
We describe many of the trends and other factors that drive our business and future results in this presentation. Such discus sions contain forward -looking statements
within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward -looking stateme nts are those that address
activities, events, or developments that management intends, expects, projects, believes or anticipates will or may occur in the future. They are based on management’s
assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments and other relevant
factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, an d actual results, developments and business
decisions may differ significantly from those envisaged by our forward -looking statements. We do not undertake to update or revi se any of our forward -looking
statements, except as required by applicable securities law. Our forward -looking statements are also subject to material risks a nd uncertainties, including ongoing
macroeconomic and geopolitical risks, such as lower GDP growth or recession, capital markets volatility, inflation, and certa in regional conflicts, that can affect our
performance in both the near - and long -term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set
forth in this presentation can or will be achieved. These forward -looking statements should be considered in light of the inform ation included in this presentation, our
Form 10 -K and other filings with the Securities and Exchange Commission. Any forward -looking plans described herein are not fina l and may be modified or abandoned
NON-GAAP FINANCIAL MEASURES
This presentation contains financial measures presented on a non -GAAP basis. Honeywell’s non -GAAP financial measures used in thi s presentation are as follows:
Segment profit, on an overall Honeywell basis; Segment profit margin, on an overall Honeywell basis; Organic sales percentage ; Free cash flow; Adjusted free cash flow;
Free cash flow excluding impact of settlements; Free cash flow margin excluding impact of settlements; Adjusted free cash flo w margin; Adjusted earnings per share;
Adjusted earnings per share excluding pension headwind; Adjusted income before taxes; Adjusted income tax expense; and Adjust ed effective tax rate, if and as noted in
the presentation. Management believes that, when considered together with reported amounts, these measures are useful to inve stors and management in
understanding our ongoing operations and in the analysis of ongoing operating trends. These measures should be considered in addition to, and not as replacements for,
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