Whirlpool Corporation Investor Presentation — October 2019

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Third-Quarter 2019 Earnings Review

Wednesday, October 23, 2019

Third-Quarter 2019 Earnings Review Whirlpool Corporation 2 Whirlpool Corporation 2GLOBAL OVERVIEW

Chief Executive Officer

Third-Quarter 2019 Earnings Review Whirlpool Corporation Whirlpool Corporation

▪Very solid global performance with ongoing EBIT(1) margin at 7.2% (up 100 bps)

▪Impressive North America EBIT(3) margin of 12.8% (up 80 bps)

▪Significant year-over-year and sequential improvement in EMEA results (near break-even)

▪Trending towards high end of full-year ongoing EPS(1) range of $14.75 - $15.50

▪Strong progress towards long-term Gross Debt/EBITDA target of ~2.0 2019 THIRD-QUARTER HIGHLIGHTS

3Third-Quarter 2019 Earnings Review Whirlpool Corporation Whirlpool Corporation

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 %

(4.4)% 7.2% Net Sales

(Forecast) 6.8%+ ~4%*~0.5pts ~$800M*~$20.6B $(805)M nmLong-Term

(4) Organic net sales reflects YoY change in net sales

adjusted for currency and the Embraco divestiture. See

Organic Net Sales reconciliation in the appendix nm = not meaningful

*Includes net proceeds and the term loan

repayment related to the sale of Embraco

(+2.5% organic(4))Third-Quarter 2019 Earnings Review Whirlpool Corporation Whirlpool Corporation

Q3 2019 ONGOING EBIT MARGIN(1) DRIVERS

5(Approximate impact) Q3

2018 Ongoing EBIT Margin 6.2%

Net Cost (excluding Raw Material/Tariff Inflation)*0.25

Raw Material/Tariff Inflation -0.25

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