Honeywell International : J.P. Morgan Industrials Conference Presentation

J.P. MORGAN INDUSTRIALS CONFERENCE

MARCH 15, 2022

DARIUS ADAMCZYK

CHAIRMAN AND

CHIEF EXECUTIVE OFFICER

Forward Looking Statements

This presentation contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All

statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this presentation are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. We identify the principal risks and uncertainties that affect our

performance in our Form 10-K and other filings with the Securities and Exchange Commission.

Non-GAAP Financial Measures

This presentation contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this presentation are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency

translation and acquisitions and divestitures for the first 12 months following the transaction date; organic sales growth excluding COVID-driven mask sales, which we define as organic

sales growth excluding any sales attributable to COVID-driven masks; free cash flow, which we define as cash flow from operations less capital expenditures plus cash receipts from Garrett, if an as noted in the presentation; free cash flow excluding Quantinuum, which we define as free cash flow less free cash flow attributable to Quantinuum; and adjusted earnings per share, which we adjust to exclude pension mark-to-market, changes in fair value for Garrett equity securities, an expense related to UOP matters, gain on the sale of the retail footwear business, and a non-cash charge associated with a further reduction in value of reimbursement receivables following Garrett's emergence from bankruptcy on April 30, 2021, if and as noted in the presentation. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain metrics presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Refer to

the Appendix attached to this presentation for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures.

J.P. Morgan Industrials Conference - March 15, 2022

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KEY MESSAGES

1

2

3

Honeywell value creation framework is a differentiator

We are well-positioned for growth acceleration with strong macro tailwinds in core end markets and gains from incremental breakthrough initiatives

Our heritage of ESG is a strength which sets us apart

Best Outlook for Honeywell in Decades

J.P. Morgan Industrials Conference - March 15, 2022

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HONEYWELL VALUE CREATION FRAMEWORK

1. Deep Experts

2. Innovators of

3. Leaders in High

4. Rigorous

Scalable

of Our Domains

Growth Regions

Operators

Technologies

Expansive installed base and

Leveraging installed base;

Continuous improvement in

scale driving connected

building breakthrough

Long-term track record of

operating efficiency; decisive

software, recurring, and

technologies and gaining

growth; local-for-local presence

action in all environments

services revenue streams

share in core markets

5. Disciplined

6. Effective

7. Responsible

Financial

Corporate

Capital Managers

Stewards

Citizens

Consistent performance on

Disciplined capital deployment;

Committed to upholding our

organic growth, margin

environmental, social, and

active portfolio management

expansion, cash generation

governance principles

Underpinned by Our Operating System - Honeywell Accelerator

Framework Reinforced By Long-Standing Expertise in Controls and Automation

J.P. Morgan Industrials Conference - March 15, 2022

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INVESTING IN INNOVATION

NEW PRODUCT INTRODUCTIONS (NPI)

• Diverse portfolio of innovative, next generation growth opportunities for 2022 and beyond
• Over the last five years, NPI Vitality has gone up 50% because of our investments in higher margin, end-to-end solutions that span across the Honeywell portfolio

KEY METRIC: Percent of total sales generated from organically developed new products introduced in the last three years

BREAKTHROUGH INITIATIVES (BTI)

• Materially new offerings that address large, growing markets, building on our foundation of controls and automation
• Our BTI portfolio continuously evolves as BTIs in execution reach $100M sales and graduate into the core portfolio
• Stood up five business units which started as BTIs (HCE, Quantinuum, STS, UAS / UAM, and Cyber)

KEY METRIC All BTIs must have a sales target of more than $100M within three years of entering execution

NPI VITALITY

31%

28%

21%

33%

>$2B	>$200B
Sales generated from BTI's	Total Addressable Market for
in execution over last 3 years	BTI portfolio

2017 2019 2021 2023E

HCE: Honeywell Connected Enterprise. STS: Sustainable Technology Solutions. UAS: Unmanned Aerial Systems. UAM: Urban Air Mobility.

Honeywell Differentiates Through a Commitment to Innovation

J.P. Morgan Industrials Conference - March 15, 2022

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