Raytheon Technologies Corp. announced that it has commenced cash tender offers for the maximum principal amount of validly tendered (and not validly withdrawn) notes set forth (the "Notes"), such that the aggregate purchase price, not including accrued and unpaid interest, payable in respect of such Notes will not exceed $2.1 billion. The Offers are being made pursuant to an Offer to Purchase, dated Nov. 1, 2021 (the "Offer to Purchase"), which sets forth a description of the terms of the Offers. Each Offer is scheduled to expire at 11:59 p.m., New York City time, on Nov. 30, 2021, unless extended or earlier terminated by Raytheon Technologies (such date and time, as the same may be extended or earlier terminated with respect to each Offer, the "Expiration Time"). To receive the Total Consideration, holders of the Notes must validly tender and not validly withdraw Notes at or prior to 5:00 p.m., New York City time, on November 15, 2021, unless such deadline is extended with respect to the applicable Offer(s) (such date and time, as the same may be extended with respect to each Offer, the "Early Tender Time"), to be eligible to receive the Total Consideration. Tenders of Notes may not be validly withdrawn after 5:00 p.m., New York City time, on Nov. 15, 2021 (the "Withdrawal Deadline"), unless extended by Raytheon Technologies with respect to the applicable Offer. After such time, Notes validly tendered may not be validly withdrawn unless such deadline is extended with respect to the applicable Offer, except in certain limited circumstances where additional withdrawal rights are required by law. Payments for Notes validly tendered (and not validly withdrawn) and accepted for purchase at or prior to the Early Tender Time are expected to settle on November 17, 2021 (the "Early Settlement Date"). Subject to the satisfaction or waiver of the conditions of the Offers, the "Acceptance Priority Procedures" will operate as follows: at the Early Settlement Date, Raytheon Technologies will accept for purchase all validly tendered Notes of each series validly tendered at or before the Early Tender Time and not validly withdrawn at or before the Withdrawal Deadline, starting with the 6.125% Notes due 2038 (which have an Acceptance Priority Level of, followed by the 5.700% Notes due 2040 (which have an Acceptance Priority Level of, followed by the 7.500% Notes due 2029 (which have an Acceptance Priority Level of, followed by the 6.700% Notes due 2028 (which have an Acceptance Priority Level of, followed by the 6.050% Notes due 2036 (which have an Acceptance Priority Level of, followed by the 5.400% Notes due 2035 (which have an Acceptance Priority Level of, followed by the 7.000% Notes due 2038 (which have an Acceptance Priority Level of 7), followed by the 6.800% Notes due 2036 (which have an Acceptance Priority Level of, followed by the 7.100% Notes due 2027 (which have an Acceptance Priority Level of, followed by the 4.800% Notes due 2043 (which have an Acceptance Priority Level of, followed by the 4.500% Notes due 2042 (which have an Acceptance Priority Level of, followed by the 4.200% Notes due 2044 (which have an Acceptance Priority Level of, followed by the 4.450% Notes due 2038 (which have an Acceptance Priority Level of and followed by the 4.625% Notes due 2048 (which have an Acceptance Priority Level of, subject to the Offer Cap; and on December 2, 2021 (the "Final Settlement Date"), to the extent Raytheon Technologies has not already accepted Notes with an aggregate purchase price payable in respect of such Notes equal to the Offer Cap, it will accept for purchase validly tendered and not validly withdrawn Notes of each series not previously purchased on the Early Settlement Date starting with the 6.125% Notes due 2038, followed by the 5.700% Notes due 2040, followed by the 7.500% Notes due 2029, followed by the 6.700% Notes due 2028, followed by the 6.050% Notes due 2036, followed by the 5.400% Notes due 2035, followed by the 7.000% Notes due 2038, followed by the 6.800% Notes due 2036, followed by the 7.100% Notes due 2027, followed by the 4.800% Notes due 2043, followed by the 4.500% Notes due 2042, followed by the 4.200% Notes due 2044, followed by the 4.450% Notes due 2038 and followed by the 4.625% Notes due 2048 in accordance with their respective Acceptance Priority Levels, subject to the Offer Cap.