Trane Technologies Investor Presentation — November 2022

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November 2 ,2022Forward -Looking Statements

This presentation includes “forward -looking statements” which arestatements thatarenothistorical facts, including statements thatrelate

toourfuture financial performance andtargets, including revenue, EPS andoperating income ;ourbusiness operations ;demand forour

products andservices including bookings andbacklogs ;capital deployment, including theamount andtiming ofourdividends andour

share repurchase program, including theamount ofshares toberepurchased andthetiming ofsuch repurchases ;ourcapital allocation

strategy, including acquisitions (ifany);ourprojected freecash flow andusage ofsuch cash ;ouravailable liquidity ;performance ofthe

markets inwhich weoperate ;restructuring activity andcost savings associated withsuch activity ;andoureffective taxrate.

These forward -looking statements arebased onourcurrent expectations and aresubject torisks anduncertainties, which may cause

actual results todiffer materially from ourcurrent expectations .Such factors include, butarenotlimited to,theimpact oftheglobal COVID -

19pandemic onourbusiness, oursuppliers and ourcustomers ;global economic conditions, including recessions and economic

downturns, inflation, volatility ininterest rates andforeign exchange ;changing energy prices ;theRussia -Ukraine conflict ;climate change

andoursustainability strategies andgoals ;commodity shortages ;supply chain constraints andprice increases ;government regulation ;

restructurings activity andcost savings associated withsuch activity ;secular trends toward decarbonization, energy efficiency andinternal

airquality, theoutcome ofany litigation, including therisks and uncertainties associated with theChapter 11proceedings forour

deconsolidated subsidiaries Aldrich Pump LLC and Murray Boiler LLC;cybersecurity risks;and taxaudits and taxlawchanges and

Additional factors thatcould cause such differences canbefound inourForm 10-Kfortheyear ended December 31,2021 ,aswellasour

subsequent reports onForm 10-Qandother SEC filings .Weassume noobligation toupdate these forward -looking statements .

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

to,thefinancial measure calculated inaccordance with GAAP .The definitions ofournon-GAAP financial information areincluded asan

appendix inourpresentation andreconciliations canbefound inourearnings releases fortherelevant periods located onourwebsite at

www.tranetechnologies .com.Unless otherwise indicated, alldata beyond thethird quarter of2022 areestimates .

Focused Strategy Delivers Differentiated Shareholder Returns