Trane Technologies Investor Presentation — July 2024

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July 31 , 2024Forward -Looking Statements

2This news release includes “forward -looking" statements within themeaning ofsecurities laws, which arestatements thatarenothistorical facts, including

statements that relate toourfuture financial performance and targets, including revenue, EPS, operating income, operation margin and earnings ;our

business operations ;demand forourproducts andservices, including bookings andbacklog ;capital deployment, including theamount andtiming ofour

dividends, ourshare repurchase program, andourcapital allocation strategy, including M&A activities andinvestments, ifany;ourprojected freecash flow

andusage ofsuch cash ;ouravailable liquidity ;ouranticipated revenue growth, including growth inorganic revenue ;performance ofthemarkets inwhich

weoperate ;ourforeign exchange rateoutlook, ourcredit rating ;ourproductivity andcost savings initiatives ;ourESG andother sustainability initiatives and

oureffective taxrate.

These forward -looking statements arebased onourcurrent expectations andaresubject torisks anduncertainties, which may cause actual results todiffer

materially from ourcurrent expectations .Such factors include, butarenotlimited to,global economic conditions, including recessions and economic

downturns, inflation, volatility ininterest rates andforeign exchange ;changing energy prices ;worldwide geopolitical conflict ;financial institution disruptions ;

climate change andoursustainability strategies andgoals ;future health care emergencies onourbusiness, oursuppliers andourcustomers ;commodity

shortages ;price increases ;government regulation ;restructuring activity and cost savings associated with such activity ;secular trends toward

decarbonization, energy efficiency andinternal airquality, theoutcome ofanylitigation, including therisks anduncertainties associated with theChapter 11

proceedings forourdeconsolidated subsidiaries Aldrich Pump LLC andMurray Boiler LLC;cybersecurity risks;andtaxaudits andtaxlawchanges and

Additional factors thatcould cause such differences canbefound inourForm 10-Kfortheyear ended December 31,2023 ,aswell asoursubsequent

reports onForm 10-Qandother SEC filings .New risks anduncertainties arise from time totime, anditisimpossible forustopredict these events andhow

they may affect theCompany .Weassume noobligation toupdate these forward -looking statements .

This news release also includes non-GAAP financial information, which should beconsidered supplemental to,notasubstitute for,orsuperior to,the

financial measure calculated inaccordance with GAAP .The definitions ofournon-GAAP financial information areincluded asanappendix inour