Trane Technologies Investor Presentation — May 2020

Document content

May 20202Safe Harbor

This presentation includes “forward -looking statements” which are statements that are not historical facts, including statements that relate to

statements regarding capital deployment including the amount and timing of our dividends, our share repurchase program includ ingthe

amount of shares to be repurchased and the timing of such repurchases and our capital allocation strategy including projected acquisitions;

our projected free cash flow and usage of such cash; our available liquidity; performance of the markets in which we operate; restructuring

activity; our projected financial performance and targets including assumptions regarding our effective tax rate.

These forward -looking statements are based on our current expectations and are subject to risks and uncertainties, which may cau se actual

results to differ materially from our current expectations. Such factors include, but are not limited to, the impact of the g lobal COVID -19

pandemic on our business, our suppliers and our customers, global economic conditions taking into account the global COVID -19 pa ndemic,

disruption and volatility in the financial markets due to the COVID -19 pandemic, the outcome of any litigation, demand for our p roducts and

services, and tax law changes and interpretations. Additional factors that could cause such differences can be found in our F orm10-K for the

year ended December 31, 2019, as well as our subsequent reports on Form 10 -Q and other SEC filings. We assume no obligation to u pdate

these forward -looking statements.

This presentation also includes non -GAAP financial information which should be considered supplemental to, not a substitute for, or superior

to, the financial measure calculated in accordance with GAAP. The definitions of our non -GAAP financial information are included as an

appendix in our presentation and reconciliations can be found in our earnings releases for the relevant periods located on our website at

www.tranetechnologies.com . All data beyond the first quarter of 2020 are estimates.3

Executing a Consistent Strategy Delivering Profitable Growth Over the Long -Term

ExcellenceDynamic Capital

above GDPPowerful cash flow and

balanced capital allocationStrong operating system

and performance cultureInnovation at the nexus

of sustainability and

energy efficiency global

and powerful cash flow2.

Reinvestment, dividends,

share repurchase and

integrity, ingenuity,

69% 31%0% 20% 40% 60% 80% 100%

ServicesRevenue StreamsAsia PacificTotal