Slide 1: Third-Quarter 2025 Earnings Review
Third-Quarter 2025 Earnings Review Tuesday, October 28, 2025 Whirlpool Corporation Confidential Whirlpool Corporation Confidential
Slide 2: Cautionary Statement
Cautionary Statement This document contains forward-looking statements about Whirlpool Corporation and its consolidated subsidiaries ("Whirlpool") that speak only as of this date. Whirlpool disclaims any obligation to update these statements. Forward-looking statements in this document may include,
Slide 3: Non-GAAP Measures
Non-GAAP Measures This presentation includes certain non-GAAP financial measures. We supplement the reporting of our financial information determined under U.S. Generally Accepted Accounting Principles (GAAP) with certain non-GAAP financial measures, some of which we refer to as "ongoing" measures, inc
Slide 4: Third-Quarter 2025 Earnings Review
Third-Quarter 2025 Earnings Review Whirlpool Corporation Confidential Marc Bitzer Jim Peters CHAIRMAN AND EXECUTIVE VICE PRESIDENT CHIEF EXECUTIVE AND CHIEF FINANCIAL AND OFFICER ADMINISTRATIVE OFFICER 4
Slide 5: Agenda
Agenda 1 Third-Quarter Results 2 2025 Guidance and Capital Allocation Priorities 3 Catalysts for Growth in North America Whirlpool Corporation Confidential 5
Slide 6: 2025 Third-Quarter Results
2025 Third-Quarter Results PROFITABLE GROWTH Net Sales YoY Change ● Revenue growth from new product launches in MDA North $4.0B 1.0% America and strong double-digit growth in SDA Global 1.0% ex-currency ● Ongoing EBIT margin temporarily impacted by the ramp-up MARGIN EXPANSION effects of tariffs Ongoi
Slide 7: Ongoing EBIT Margin Drivers
Ongoing EBIT Margin Drivers (Approximate impact) Q3 2024 Ongoing EBIT Margin 5.8% Price/Mix +0.50 Net Cost* +1.00 Raw Material Inflation nm Tariff Impact -2.50 Whirlpool Corporation Confidential Marketing & Technology Investments nm Currency -0.25 2025 Ongoing EBIT Margin 4.5% *Inclusive of Fixed Cost
Slide 8: MDA NAR Third-Quarter Results
MDA NAR Third-Quarter Results NET SALES ($B) EBIT ($M) EBIT MARGIN 11% 3% -7% -31% -1.0pts -2.4pts Q2 2025 Q3 2025 Q3 2024 Q2 2025 Q3 2025 Q3 2024 Q2 2025 Q3 2025 Q3 2024 Whirlpool Corporation Confidential ● New product introductions supported share gains, resulting in Net Sales growth of 3% year-ove
Slide 9: New Product Introductions Delivered Share Gains
New Product Introductions Delivered Share Gains WHIRLPOOL & KITCHENAID KITCHENAID WHIRLPOOL FRENCH DOOR REFRIGERATOR DISHWASHER TOP LOAD COUNTER DEPTH FULL DEPTH LAUNDRY True counter depth size Offering increased capacity Discover next-level Combining refreshed seamlessly fits into your and elevated a
Slide 10: MDA LAR Third-Quarter Results
MDA LAR Third-Quarter Results NET SALES ($B) EBIT ($M) EBIT MARGIN 0% -5% -6% -22% -0.3pts -1.2pts Q2 2025 Q3 2025 Q3 2024 Q2 2025 Q3 2025 Q3 2024 Q2 2025 Q3 2025 Q3 2024 Whirlpool Corporation Confidential ● Net sales excluding currency decreased 6% year-over-year due to volume decline ● Q3 EBIT marg
Slide 11: MDA Asia Third-Quarter Results
MDA Asia Third-Quarter Results NET SALES ($B) EBIT ($M) EBIT MARGIN -82% -38% -5.3pts -1.1pts -31% -7% Q2 2025 Q3 2025 Q3 2024 Q2 2025 Q3 2025 Q3 2024 Q2 2025 Q3 2025 Q3 2024 Whirlpool Corporation Confidential ● Net sales excluding currency decreased 4% year-over-year driven by volume decline ● ~2% E
Slide 12: SDA Global Third-Quarter Results
SDA Global Third-Quarter Results NET SALES ($B) EBIT ($M) EBIT MARGIN 36% 29% -0.8pts 2.3pts 43% 10% Q2 2025 Q3 2025 Q3 2024 Q2 2025 Q3 2025 Q3 2024 Q2 2025 Q3 2025 Q3 2024 Whirlpool Corporation Confidential ● Achieved 10% net sales growth year-over-year driven by successful new product launches ● Su
Slide 13: Double-Digit Sales Growth Driven by New Product Launches
Double-Digit Sales Growth Driven by New Product Launches WALNUT WOOD 3-IN-1 PASTA STAND MIXER ACCESSORIES ATTACHMENT SWEEPSTAKES Beautifully crafted with the Simplify the pasta-making Limited-edition color warmth and natural process while enhancing Tangerine Twinkle with texture of true walnut overa
Slide 14: Agenda
Agenda 1 Third-Quarter Results 2 2025 Guidance and Capital Allocation Priorities 3 Catalysts for Growth in North America Whirlpool Corporation Confidential 14
Slide 15: Narrowed 2025 Full-Year EPS Guidance
Narrowed 2025 Full-Year EPS Guidance EPS in line with prior guidance range, other components have been revised PROFITABLE GROWTH MARGIN EXPANSION CASH CONVERSION INVESTOR ~$17.2B ~9.0% ~7.0% DAY GOALS ONGOING EARNINGS BEFORE INTEREST FREE CASH FLOW ANNUAL ORGANIC NET SALES AND TAX, % OF NET SALES AS
Slide 16: Ongoing EBIT Margin Guidance
Ongoing EBIT Margin Guidance (Approximate impact) Previous Current Comments 2024 Ongoing EBIT Margin 5.3% 5.3% Price/Mix +1.75 +0.75 • Product launches & pricing actions Net Cost* +1.00 +1.00 • Cost actions expected to deliver ~$200M Raw Material Inflation nm nm • Expect minimal impact from commodity
Slide 17: 2025 Segment Guidance
2025 Segment Guidance Industry EBIT % Current Previous Current MDA North America (3%) - 0% 6.0% - 6.5% 5.0% - 5.5% MDA Latin America (5%) - 0% ~7.0% ~6.0% MDA Asia 0% - 3% ~5.0% ~5.0% Whirlpool Corporation Confidential SDA Global (3%) - 0% ~15.5% ~15.5% Total (3%) - 0% ~5.7% ~5.0% 17
Slide 18: 2025 Free Cash Flow Guidance
2025 Free Cash Flow Guidance (Approximate impact in millions) 2024 2025 Comments Previous Current Cash Earnings and Other Operating Items $637 ~$900 ~$750 • Reflects adjusted earnings / tariff costs • Innovation, digital transformation and Capital Expenditures $(451) ~$(450) ~$(400) cost optimization
Slide 19: Capital Allocation Priorities
Capital Allocation Priorities • Invest ~$400M of net sales in Capex 1 Fund Organic Growth • 100+ new product introductions in 2025 • Debt pay down ~$700M (delayed into 2026) 2 Debt Paydown • ~2x net debt leverage target 3 Fund Dividend • Declared Q4 dividend of $0.90 per share Whirlpool Corporation
Slide 20: Continued Progress of Whirlpool of India Transaction
Continued Progress of Whirlpool of India Transaction Expect to announce share sale transaction by Dec ‘25, targeting closure in H1 ‘26 CURRENT OWNERSHIP STATUS UPDATE 51% stake in Whirlpool of India Strategic agreements in place as of Oct. 16th - Including Brand and Technology licenses TARGETED OWNE
Slide 21: Agenda
Agenda 1 Third-Quarter Results 2 2025 Guidance and Capital Allocation Priorities 3 Catalysts for Growth in North America Whirlpool Corporation Confidential 21
Slide 22: Recall: North America is Well-Positioned to Unlock Value Creation
Recall: North America is Well-Positioned to Unlock Value Creation 1 Record number 2 ‘Net Winner’ 3 (Overdue) recovery of products launched of trade tariffs of U.S. housing market ● >30% of North America’s product ● 8 in 10 of our Major Domestic ● Multi-decade lows of existing portfolio is transitioni
Slide 23: KitchenAid Suite Now Launched
1 KitchenAid Suite Now Launched 23 Whirlpool Corporation Confidential
Slide 24: Net Winner of Trade Tariffs
2 Net Winner of Trade Tariffs TO DATE, NEW TARIFFS HAVE BEEN A REGIONAL …BUT THE TIDES ARE BEGINNING TO TURN BEST COST HEADWIND… LEADING SCALE POSITION ● Unfavorable P&L impact ● Import volumes are ○ ~$100M in Q3 beginning to decelerate ○ ~$225M in FY ● Full impact of reciprocal and section 232 tari
Slide 25: Advancing our Catalysts for Growth
Advancing our Catalysts for Growth 1 New Product Launches ● 30% increase in flooring vs. prior year ● New KitchenAid suite started shipping late Q3 2 Investment in U.S. Manufacturing ● Announced $300M investment, adding capacity to our U.S. laundry footprint Whirlpool Corporation Confidential Builder
Slide 26: Closing Summary
Closing Summary ● Delivered year-over-year and sequential net sales growth in Q3, with share gains in MDA North America and strong SDA Global performance ● MDA North America new product launch execution on track, positioning our business well for sustained future growth ● Uniquely positioned to win
Slide 27: Closing Remarks and Q&A
Closing Remarks and Q&A 27 Whirlpool Corporation Confidential
Slide 28: 2025 Guidance Comparison to 2024
2025 Guidance Comparison to 2024 Q1 2024 2024 As 2024 Like- 2025 MDA Reported for-Like Guidance Europe* Net Sales (in billions) $16.6 $0.8 ~$15.8 ~$15.8 Ongoing EBIT (in $887 $(9) ~$896 ~$800 millions) Whirlpool Corporation Confidential Ongoing EBIT Margin 5.3% (1.1)% ~5.7% ~5.0% *Q1 historical segme
Slide 29: Key Assumptions - Guidance
Key Assumptions - Guidance Income Statement FY2024 FY2025E Raw Material (Inflation) / Deflation nm nm Restructuring Costs* $79M ~$50M Interest Expense $358M ~$340M Corporate Center** $200M $200M - $225M Weighted-Average Diluted Shares Outstanding 55.1M 56.2M*** GAAP Earnings per Diluted Share $(5.87)
Slide 30: Interest and Sundry (Income) Expense and Equity Method Investment Income (Loss)
Interest and Sundry (Income) Expense and Equity Method Investment Income (Loss) Q3 (Approximate impact in millions) 2024 2025 Comments • Includes foreign exchange and hedge Net Foreign Exchange $6 $6 (gain)/loss • 2024 & 2025 interest income, interest Interest (Income) Expense/Other (13) (12) rate s
Slide 31: Restructuring Cash Outlays
Restructuring Cash Outlays (Approximate impact in millions) 2024 2025E Comments Other Initiatives $82 $50 Primarily due to organizational simplification Total $82 ~$50 Whirlpool Corporation Confidential 31
Slide 32: Whirlpool
Whirlpool Whirlpool KitchenAid JENNAI? MAYIAG AMANA BRASTEMP' Consul inQDertor