Carrier Global Corporation entered into the following credit agreements: A 5-year senior unsecured revolving credit agreement, facilitating borrowings of up to $2 billion, with a maturity date of May 19, 2028, A 364-day senior unsecured revolving credit agreement, facilitating borrowings of up to $500 million, and A senior unsecured delayed draw term loan credit agreement that permits borrowings of up to €2.3 billion, which commitments are in two tranches of equal amount: Tranche A, maturing 18 months after the Closing Date, and Tranche B, maturing 3 years after the Closing Date. The New Credit Agreements were negotiated with various financial institutions acting as lenders and with JPMorgan Chase Bank, N.A. acting as the administrative agent. The 5-Year Revolving Credit Agreement refinanced and replaced the Prior Credit Agreement, and will support the Company's commercial paper program and the cash requirements of the Company.

The Term Loan Credit Agreement will be used to finance, in part, the Company's recently announced acquisition of the climate solutions business of Viessmann Group GmbH & Co. KG (the “Acquisition”), and the 364-Day Revolving Credit Agreement shall become available to the Company upon the closing of the Acquisition. Borrowings under the New Credit Agreements may be made in either U.S. Dollars or Euros.

For U.S. Dollar borrowings, interest can be charged at either the Term SOFR Rate plus 0.10% and a ratings-based margin, or alternatively at the Alternate Base Rate plus a ratings-based margin. Euro borrowings bear interest at the Adjusted EURIBOR Rate plus a ratings-based margin. The New Credit Agreements contain customary representations and warranties for investment grade financings.

The New Credit Agreements also contain (i) certain customary affirmative covenants, including those that impose certain reporting and/or performance obligations on the Company, (ii) certain customary negative covenants that generally restrict, subject to various exceptions, the Company from taking certain actions, including, without limitation, incurring certain liens and consummating certain fundamental changes, (iii) a financial covenant in the form of a consolidated total net leverage ratio and (iv) customary events of default (including a change of control) for financings of this type. Simultaneous with the entry into the New Credit Agreements, the Company terminated its existing revolving credit agreement, initially dated February 10, 2020, and subsequently amended by that certain Amendment No. 1 on June 2, 2020 and Amendment No.

2 on November 15, 2021 (as previously amended, the “Prior Credit Agreement”), which provided for a $2.0 billion senior unsecured revolving credit facility. As a result of the effectiveness of the commitments under the Term Loan Credit Agreement, the commitments under the senior unsecured bridge term loan facility (under that certain Commitment Letter, dated April 25, 2023, among the Company and the financial institutions party thereto) were automatically and permanently reduced from an aggregate principal amount of EUR 8.2 billion to EUR 5.9 billion.