Whirlpool Corporation Investor Presentation — July 2019

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

Second-Quarter 2019 Earnings Review

Tuesday, July 23, 2019

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

Chief Executive Officer

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

▪Raising full-year ongoing EPS guidance significantly to $14.75 to $15.50 (versus prior $14.00 to $15.00)

▪Record second-quarter ongoing EPS(1) of $4.01, ~25% increase versus the prior-year period

▪Ongoing EBIT margin expansion to 7.0% (up ~30 bps), driven by strong price/mix

▪North America delivered solid revenue growth and margin expansion to 12.4%

▪Completed sale of Embraco; expect to repay $1 billion term loan in August 2019 SECOND-QUARTER HIGHLIGHTS

3Second-Quarter 2019 Earnings Review Whirlpool Corporation Whirlpool Corporation - Confidential

PROGRESS TOWARD LONG-TERM GOALS

Annual Organic Net Sales Growth

Ongoing Earnings Before Interest

and Tax, % of Net Sales

Free Cash Flow as % of Net Sales

EBIT Margin(1)FCF as %

(Forecast) ~6.8% ~4% ~0.5pts ~$800M**~$20.6B $(997)M nmLong-Term

*YoY change adjusted for divestitures and currency;

see revenue reconciliation in the appendix -Change

Forecast) +15 bps - +$0.3B - $(50)M

**Excludes net proceeds from the sale of

Embraco of ~$1 billion

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

Q2 2019 ONGOING EBIT MARGIN(1) DRIVERS

5(Approximate impact) Q2

2018 Ongoing EBIT Margin 6.7%

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

Raw Material/Tariff Inflation -0.75

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