Trane Technologies Investor Presentation — May 2021

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May 2021Safe Harbor

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

our future performance, statements relating to the continued impact of the COVID -19 global pandemic, capital deployment including the

amount and timing of our dividends, our share repurchase program including the amount of shares to be repurchased and the tim ingof such

repurchases and our capital allocation strategy including acquisitions (if any); our projected free cash flow and usage of su ch cash; our

available liquidity; performance of the markets in which we operate; restructuring activity and cost savings associated with such 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, improvement in market conditions (if any) with global vaccine

administration, the outcome of any litigation, the outcome of the Chapter 11 proceedings for our deconsolidated subsidiaries Aldrich Pump

LLC and Murray Boiler LLC, demand for our products and services, and tax audits and tax law changes and interpretations. Addi tional factors

that could cause such differences can be found in our Form 10 -K for the year ended December 31, 2020, as well as our subsequent reports

on Form 10 -Q and other SEC filings. We assume no obligation to update 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 . Unless otherwise indicated, a ll data beyond the firstquarter of 2021 are estimates.

21 2 3 4C L E A R P R I O R I T I E S

Focused Strategy Delivers Differentiated Shareholder Returns

and Cash ViaMaximize

Strong operating system and

performance cultureUplifting culture –integrity, ingenuity,