Trane Technologies : Presentation (

Investor Presentation

December 2022

Forward-Looking Statements

This presentation includes "forward-looking statements" which are statements that are not historical facts, including statements that relate to our future financial performance and targets, including revenue, EPS and operating income; our business operations; demand for our products and services including bookings and backlogs; capital deployment, including the amount and timing of our dividends and our share repurchase program, including the amount of shares to be repurchased and the timing of such repurchases; our capital allocation strategy, including acquisitions (if any); our projected free cash flow and usage of such cash; our available liquidity; performance of the markets in which we operate; restructuring activity and cost savings associated with such activity; and our effective tax rate.

These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. Such factors include, but are not limited to, the impact of the global COVID- 19 pandemic on our business, our suppliers and our customers; global economic conditions, including recessions and economic downturns, inflation, volatility in interest rates and foreign exchange; changing energy prices; the Russia-Ukraine conflict; climate change and our sustainability strategies and goals; commodity shortages; supply chain constraints and price increases; government regulation; restructurings activity and cost savings associated with such activity; secular trends toward decarbonization, energy efficiency and internal air quality, the outcome of any litigation, including the risks and uncertainties associated with the Chapter 11 proceedings for our deconsolidated subsidiaries Aldrich Pump LLC and Murray Boiler LLC; cybersecurity risks; and tax audits and tax law changes and interpretations.

Additional factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2021, as well as our subsequent reports on Form 10-Q and other SEC filings. We assume no obligation to update these forward-looking statements.

This presentation also includes non-GAAP financial information which should be considered supplemental to, not a substitute for, or superior to, the financial measure calculated in accordance with GAAP. The definitions of our non-GAAP financial information are included as an appendix in our presentation and reconciliations can be found in our earnings releases for the relevant periods located on our website at www.tranetechnologies.com. Unless otherwise indicated, all data beyond the third quarter of 2022 are estimates.

2

C L E A R P R I O R I T I E S

Focused Strategy Delivers Differentiated Shareholder Returns

1	2	3	4
	Win		Grow Margins			Maximize		Continue
	Through		and Cash Via			Value As		With
	Sustainable		Execution			Focused		Dynamic Capital
	Innovation		Excellence			Climate Co.		Allocation

		Strong Foundation
Strong operating system and		Powerful cash flow		Uplifting culture - integrity, ingenuity,
performance culture			community & engagement

3

T R A N E T E C H N O L O G I E S T O D A Y

Pure-Play Climate Control Business with Leading Brands and Market Positions; High Aftermarket Mix

Regional Segments

Americas	Total	APAC
	$14.1B
	Sales
		EMEA

Revenue Streams

67%33%

EquipmentAftermarket

Franchise Brands

Commercial HVAC

Transport Refrigeration

Residential HVAC

All figures are FY 2021 historical information.

4

S U S T A I N A B I L I T Y L E A D E R

Global Megatrends Continue to Intensify - Demanding Bold Action

Heating and Cooling		Food Loss		GHG Emissions
Buildings
Global emissions from heating /		Global emissions		Combined share of
cooling buildings*	+	come from food loss / waste*	=	global emissions
15%	10%	25%

* Source: Project Drawdown and BCG

5