Whirlpool Corporation Investor Presentation — April 2019

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First-Quarter 2019 Earnings Review Whirlpool Corporation Whirlpool Corporation - Confidential

First-Quarter 2019 Earnings Review

Tuesday, April 23, 2019

First-Quarter 2019 Earnings Review Whirlpool Corporation 2 Whirlpool Corporation - Confidential 2GLOBAL OVERVIEW

Chief Executive Officer

First-Quarter 2019 Earnings Review Whirlpool Corporation Whirlpool Corporation - Confidential

2019 FIRST-QUARTER HIGHLIGHTS

3▪Record first-quarter ongoing EPS(1) of $3.11

▪Revenue impacted by industry weakness and unfavorable currency

▪Solid margin expansion of 30 bps driven by price/mix progress and fixed cost discipline

▪Very strong margin expansion in North America, despite weak industry and cost inflation

▪Guidance remains unchanged as raw material favorability offsets demand softness First-Quarter 2019 Earnings Review Whirlpool Corporation Whirlpool Corporation - Confidential

PROGRESS TOWARD LONG-TERM GOALS

Annual Organic Net Sales Growth

FCF as % of Net Sales

EBIT Margin(1)FCF as %

(Forecast) 6.5-6.8% ~4% ~0.4pts $800M to

$900M** ~$20.3B $(969)M nmLong-Term

*YoY change adjusted for divestitures and currency;

see revenue reconciliation in the appendix nm = not meaningful

**Excludes anticipated proceeds from sale of Embraco First-Quarter 2019 Earnings Review Whirlpool Corporation Whirlpool Corporation - Confidential

Q1 2019 ONGOING EBIT MARGIN(1) DRIVERS

5(Approximate impact) Q1

2018 Ongoing EBIT Margin 6.0%

Net Cost (excluding Raw Material/Tariff Inflation)* -0.50

Raw Material/Tariff Inflation -1.50

Marketing & Technology Investments -0.25

2019 Ongoing EBIT Margin 6.3%

*Inclusive of Fixed Cost Takeout, Ongoing Cost Productivity (including conversion and freight & warehousing) and Restructuring Benefits First-Quarter 2019 Earnings Review Whirlpool Corporation 6 Whirlpool Corporation - Confidential 6REGIONAL OVERVIEW

Executive Vice President

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