Honeywell International Inc. · NASDAQ:HON
Honeywell International — Investor Day (June 2026)
123 slides from Honeywell International's investor day presentation, Jun 11, 2026
Slide 1: Investor Day
Investor Day June 11, 2026 HE Honeywell a8 Technologies
Slide 2: Forward-looking statements Non-GAAP financial measures
Forward-looking statements Non-GAAP financial measures We describe many of the trends and other factors that drive our business and future results This presentation contains financial measures presented on a non-GAAP basis. Honeywell’s in this presentation. Such discussions contain forward-looking s
Slide 3: 2026 Investor Day agenda
2026 Investor Day agenda Presentation Presenters 1:00 Opening remarks Mark Macaluso 1:15 Introducing Honeywell Technologies | Strategy and outlook Vimal Kapur 1:50 Building Automation Billal Hammoud 2:10 Industrial Automation Pete Lau 2:30 Process Automation & Technology Jim Masso and Ken West 2:50
Slide 4: Today's presenters
Today’s presenters Vimal Kapur Billal Hammoud Pete Lau Jim Masso Chairman and Chief Executive Officer, Chief Executive Officer, Chief Executive Officer, Chief Executive Officer Building Automation Industrial Automation Process Automation Ken West Suresh Venkatarayalu Mike Stepniak Mark Macaluso Chie
Slide 5: Introducing Honeywell Technologies | Strategy and outlook
Introducing Honeywell Technologies | Strategy and outlook Vimal Kapur Chairman and Chief Executive Officer
Slide 6: Introducing Honeywell Technologies
Introducing Honeywell Technologies 1 Transformed portfolio into a pure-play automation leader 4 Leveraging AI to lead the transition from automation to autonomy 2 Focused on mission-critical automation environments delivering value-based outcomes 5 Mature Honeywell Accelerator operating system enabl
Slide 7: Portfolio transformation
Portfolio transformation
Slide 8: Turnaround "say = do"
Turnaround “say = do” From 2023 Honeywell Investor Day Milestones accomplished Accelerated top-line growth, meeting “say = do” commitment Executed Honeywell transformation Reinvigorated innovation and NPI machine Pivoted Honeywell Accelerator operating system to business model approach Continued foc
Slide 9: Portfolio transformation
Portfolio transformation We streamlined a complex portfolio… …With targeted simplification actions $6.2B Energy and Sustainability Advanced Materials Building Products Building Solutions $6.0B Building $23B Spin-offs 1 • Advanced Materials Solutions Automation • Aerospace Expected on June 29, 2026 U
Slide 10: These actions have created a cohesive, pure-play automation portfolio
These actions have created a cohesive, pure-play automation portfolio Aftermarket Products $3.7 $6.4B $3.9 $7.4B Process Automation Building Automation & Technology ~$17B $2.7 2025 sales* $3.4 Projects Solutions $0.7 $3.0 Solutions $3.7B Products Industrial Automation *Non-GAAP financial measure Rep
Slide 11: Who we are
Who we are Global pure-play automation company delivering mission-critical outcomes for our customers ~$17B 1 ~$4B ~21% Sales* Segment Profit *2 Segment Margin*2 >10% 7% 14% 37% ~40% Sales 1 42% Monetize Sales1 Grow Sales1 43% by segment installed ~30% by business installed by region base model base
Slide 12: Where we play
Where we play Technology stack Industry segments and Honeywell Technologies’ participation Information flows up and directives flow down in a continuous cycle Buildings Process / Hybrid Discrete Building Automation Process Automation & Technology Software Controls Industrial Automation Sensing and m
Slide 13: Why we like these markets
Why we like these markets Attractive market characteristics Market dynamics • Aligned to compelling megatrends, including infrastructure Buildings Industrial Process buildout, energy security, skilled labor scarcity, AI and reshoring Market size1 ~$120B ~$35B ~$55B • Attractive verticals with higher
Slide 14: Pure-play automation leader with distinctive advantages
Pure-play automation leader with distinctive advantages Foundational strengths Differentiation Vast installed base Deep domain expertise with large aftermarket leveraging world-class entitlement engineering resources Global scale #1 Proprietary Honeywell Forge with deep customer relationships in Bui
Slide 15: Attractive ESG opportunity
Attractive ESG opportunity 1 2 3 Simplified portfolio following >75% of sales from offerings Unwavering commitment to divestment of conventional and contributing to sustainability- reduce carbon footprint in nuclear weapons exposure oriented outcomes1 facilities and operations Portfolio actions 2025
Slide 16: Growth strategy
Growth strategy
Slide 17: Strategy execution scorecard
Strategy execution scorecard Organic sales growth* Clear path to change trajectory 10.0% MSD+ MSD - HSD 7.7% Building 8.0% Honeywell Technologies has a consistent growth strategy, Automation underpinned by business model approach; each segment is at 6.0% MSD a different level of maturity today 4.0%
Slide 18: Cycle of shared value creation
Cycle of shared value creation Grow installed Monetize base installed base Grow Deliver Fully installed Grow Harness optimized activate base installed Connect Honeywell customer installed base assets Forge outcomes base Fully Extend with Digitize Develop Drive Leverage Connect hardware at installed
Slide 19: Growth framework
Growth framework Monetize installed base, Software enabled by Honeywell Forge Outcomes-based services and software 2 Introduce new products 3 enhanced by AI-enabled solutions Targeted investments to drive Services faster innovations Grow installed base Maintain scale in mature verticals and increase
Slide 20: Grow installed base in attractive verticals
Grow installed base in attractive verticals Grow installed base 1 Current Key verticals Future state Datacenters, 20% higher-growth $47B semiconductors, LNG, grid Grow share SAM, infrastructure, life sciences, DD% 25% higher-growth verticals 7%1 healthcare, hospitality verticals Market HON growth gr
Slide 21: Monetize our installed base
Monetize our installed base Monetize installed base 2 2025 business Extend value …with productivity-enhancing models mix to installed base… outcomes for our customers Software >10% Penetration 1 Skilled labor efficiency Under contract Monetize Example: ~38% savings in annual labor fire testing Servi
Slide 22: Honeywell Forge as an enabler for mining installed base
Honeywell Forge as an enabler for mining installed base Monetize installed base 2 Connected solutions delivering productivity-enhancing outcomes for our customers 1 Skilled labor efficiency 2 Asset uptime 3 Operational efficiency New software applications Connected services Autonomous operations Hon
Slide 23: Future opportunity as industry evolves from automation to autonomy
Future opportunity as industry evolves from automation to autonomy Monetize installed base 2 Current state Automation Autonomy Augmentation Honeywell Forge’s rapid progress Rule-based Outcome-based Knowledge Human AI Agent AI Agent Connections 0.3K 324K 2020 to 2026E Action Human Human AI Agent As
Slide 24: Rewired innovation focus
Rewired innovation focus Introduce new products 3 Increased R&D …and transformed …to deliver higher investments… innovation process organic growth R&D % of sales1 NPI vitality2,3 LTM avg. organic growth* 4.0% 4.6% 4.5% >2% 43% 43% 48% 3.0% 4.4% 43% 2.0% 4.2% 38% 1.0% 4.0% 3.9% 31% 0.0% 3.9% 28% 33%
Slide 25: Cycle of shared value creation
Cycle of shared value creation Grow installed base Extend with hardware at critical control points Grow and monetize installed base; Fully activate Connect 13% orders growth over last 3 years, yielding installed base assets 5.2M connected assets, Leverage solutions Digitize installed $18B backlog1 t
Slide 26: Recent M&A accelerating growth
Recent M&A accelerating growth Strengthened position in turbomachinery control and optimization for process solutions Ongoing bolt-on M&A criteria: Seamless integration into Honeywell Forge to offer end-to-end cybersecurity solutions Optimal deal size: $2B - $4B Grew portfolio of building security p
Slide 27: Our investment in Quantinuum
Our investment in Quantinuum Quantinuum (Nasdaq: QNT) completed a successful June 4 IPO, raising ~$1.7B (excl. greenshoe option) from leading institutional investors and reinforcing confidence in its technology, partnerships, and long-term value creation potential 2020 2023 2025 2029 2030+ Honeywell
Slide 28: Operational execution
Operational execution
Slide 29: Honeywell Accelerator operating system enabling profitable growth
Honeywell Accelerator operating system enabling profitable growth Level of maturity / penetration within Honeywell Accelerator 2025 proof points Representative key performance indicator (KPI) Functional excellence Fixed cost rationalization 88% on-time to first promise, Manufacturing On-time deliver
Slide 30: Margin expansion drivers
Margin expansion drivers 1 Honeywell Accelerator operating system 2 Fixed cost rationalization 3 Improving sales mix Level of maturity / penetration within Fixed cost % of sales Target mix of high margin services and Honeywell Accelerator software within ~5 years Business model mix 38.0% 50.0% Repre
Slide 31: Best-in-class management team
Best-in-class management team Vimal Kapur Billal Hammoud Pete Lau Jim Masso Ken West Suresh Venkatarayalu Mike Stepniak Chairman and CEO CEO, Building Automation CEO, Industrial Automation CEO, Process Automation CEO, Process Technology CTO and President, Chief Financial Officer HON Tenure: 37 years
Slide 32: High-performance growth culture
High-performance growth culture 2022 2025 Key traits 69 74 Voice of the Employee score Employee engagement Engaged workforce strengthening 3.9 4.2 execution, resilience, and retention Glassdoor culture rating 252K 711K Growth mindset Honeywell Accelerator learning Translating capability into revenue
Slide 33: Financial framework
Financial framework Honeywell Technologies value creation strategy driving towards… …three-year targets • Alignment to megatrends with leading positions in key verticals Durable growth • Growing vast installed base and monetizing installed base 4% - 6% acceleration • Outcome-based services and softw
Slide 34: Key messages
Key messages 1 Transformed into a pure-play automation leader positioned to lead the industry’s transition from automation to autonomy Clear path to durable growth and margin expansion driven by differentiated business model • Growing and activating installed base in mission-critical environments wh
Slide 35: Building Automation business overview
Building Automation business overview Billal Hammoud President and CEO, Building Automation
Slide 36: Building Automation | Key messages
Building Automation | Key messages 1 2 3 Unique position in attractive Driving differentiation through Monetizing installed end markets revitalized vertical and regional base, including through focus Honeywell Forge • Operating in ~$120B industry, growing 4% • Global leader in building controls with
Slide 37: BA | Overview
BA | Overview 2025 financial overview Business description $7.4B 26.5% • Leading provider of integrated solutions spanning controls, software, install and services • Exposure to higher-growth verticals (e.g., datacenters, healthcare, hospitality) Sales Segment margin • Equipment-agnostic offerings w
Slide 38: BA | Offerings solving vertical-specific challenges
BA | Offerings solving vertical-specific challenges Leading position in controls and gateways Tridium open connectivity platform Multi-domain optimization HON Forge proprietary software algorithms Ecosystem and channel innovation Education Healthcare • Building and energy management • Room pressuriz
Slide 39: BA | Products and solutions
BA | Products and solutions Composition of 2025 sales Key applications Key differentiators Fire • Fire control panel and detection systems • Trusted brand in fire with well-established • Advanced fire detection global channel • Self testing and connected life safety solutions • Remote operations, se
Slide 40: BA | Business model
BA | Business model Strategic levers to deliver revenue growth and margin expansion Global channel footprint Balanced portfolio mix Leading position in key geographies We play in fragmented markets through Attractive, regulatory-driven fire and security channel ecosystem portfolio with secular growt
Slide 41: BA | Growth levers
BA | Growth levers Monetize installed base Software Introduce Services new products Grow installed Products and Projects 1 2 3 base Vertical focus Regional focus Innovation focus • DD% growth in critical and high- • High scale regions growth of LSD% - • MSD% contribution to organic growth growth ver
Slide 42: BA | Why we win
BA | Why we win Competitive differentiators Select proof points Deep domain controls and integration expertise: #1 in building controls, fire and access controls Ability to execute large, complex projects Digitization at scale enabled by hardware agnostic controls, 265K sites optimized using Honeywe
Slide 43: BA | Connected - Creating value for customers
BA | Connected - Creating value for customers Cycle of shared value creation with connected offering New buildings High double digit (greenfield) ARR growth Grow installed base Extend with hardware at critical control points Fully activate Connect installed base assets Leverage solutions Building Di
Slide 44: BA | Case study - Education
Vanderbilt campus BA | Case study - Education Vanderbilt campus | 110 buildings | 8 million square feet Why Honeywell Forge is adopted Customer challenges • Frictionless connectivity, faster • Skilled labor shortage with domain time to value experts retiring • Rapid and autonomous asset • Rising mai
Slide 45: BA | Case study - Datacenter
Equinix profile BA | Case study - Datacenter Equinix profile Building Automation solutions Customer challenges Integrate IT and OT systems into • Complex IT / OT systems to a single pane of glass to simplify manage and integrate operations • Highly skilled labor • Datacenter commissioning 1 Thermal
Slide 46: BA | Medium-term framework
BA | Medium-term framework Three-year targets MSD - HSD ~29% Organic sales growth Segment margin Growth drivers Honeywell Accelerator enables best-in-class execution Focused vertical and regional play • Grow installed base in high-growth and critical verticals Ramp in demand-driven volume leverage f
Slide 47: Industrial Automation business overview
Industrial Automation business overview Pete Lau President and CEO, Industrial Automation
Slide 48: Industrial Automation evolution
Industrial Automation evolution Diversified industrial Portfolio shaping Automation pure play 2017 - 2022 2023 - 2025 2026+ Legacy divisions Megatrend focus Simplified and focused portfolio Ind’l measurement (IMC, HTS) Ind’l measurement (IMC, HTS) Ind’l measurement (IMC, HTS) Product- led Product- U
Slide 49: Industrial Automation | Key messages
Industrial Automation | Key messages 1 2 3 Focused portfolio centered Strong set of businesses with Clear and actionable growth around sensing and compelling set of competitive and value creation algorithm measurement solutions advantages • Global provider of highly-specified • Highly differentiated
Slide 50: IA | Overview
IA | Overview 2025 financial overview Business description $3.7B ~20% • Distinctive, mission-critical offerings in highly-regulated applications with exceptionally strong customer loyalty • Diversified vertical exposure aligned with secular growth trends Sales Segment margin* • Offerings designed to
Slide 51: IA | Products and solutions
IA | Products and solutions Measurement Sensing Industrial Utility Industrial Applications High reliability and safety measurement High accuracy custody transfer Sensing applications in for multi-industry applications measurement for electric, water semiconductors, life sciences, (semiconductors, O&
Slide 52: IA | Participation in the industry
IA | Participation in the industry Industry verticals Industrial Automation Verticals Whitespace for growth Other Honeywell Technologies Upstream, midstream and Life Industrial segments Semis Aerospace Utilities downstream O&G; chemicals sciences manufacturing Software HON HON Controls Instrumentati
Slide 53: IA | Offerings
IA | Offerings Semiconductor manufacturing • Sensing and measurement Industrial safety • Fixed and portable gas detection sensors Smart grid utility solutions • Ultrasonic gas meters • Electric advanced metering infrastructure, grid Life sciences, automation, visibility and medical devices insights
Slide 54: IA | Cohesive portfolio
IA | Cohesive portfolio Competitive differentiators Select proof points Certified / specified products for mission-critical offerings with proven track record of performance and reliability 90%+ products are certified Deep domain expertise in several facets of industrial operations, 300 - 400 patent
Slide 55: IA | Case study – Medical devices
IA | Case study – Medical devices Customer example Ultra-high-force sensitivity sensors • 1M+ sensors for infusion pumps and dialysis machines shipped per year • Highly-regulated applications • FDA certification required Customer challenges Value proposition Outcomes • Safe and reliable patient flui
Slide 56: IA | Case study - Semiconductors
IA | Case study - Semiconductors GD Gas detection Customer challenges HON value proposition • Semiconductor fabs utilize Leading company by installed fab capacity • Leader in semiconductor toxic, flammable and fab gas leak detection pyrophoric gases • Differentiated solution for • Monitoring gas lea
Slide 57: IA | Medium-term framework
IA | Medium-term framework Three-year targets MSD ~25% Organic sales growth Segment margin Growth drivers Honeywell Accelerator enables best-in-class execution Participation in attractive markets and segments • Mission-critical applications in regulated spaces tied to secular growth trends • High se
Slide 58: Process Automation & Technology business overview
Process Automation & Technology business overview Jim Masso Ken West President and CEO, President and CEO, Process Automation Process Technology
Slide 59: 2026 Honeywell Users Group (HUG)
2026 Honeywell Users Group (HUG) 50 years of innovation
Slide 60: Process Automation & Technology | Key messages
Process Automation & Technology | Key messages 1 2 3 4 Attractive Systematic Installed base provides Margin expansion market opportunity cross selling annual recurring via Honeywell Accelerator revenue growth operating system • ~$55B serviceable • Differentiated platform • Installed base of 28,780 •
Slide 61: PA&T | Overview
PA&T | Overview 2025 financial overview Business description $6.4B 24.0% • End-to-end lifecycle solutions across physical and digital applications • Connected AI-enabled, technology platform, enabling enterprise-level impact Sales Segment margin • Global installed base, provides platform for recurri
Slide 62: PA&T | Offerings
PA&T | Offerings Services and Connected digital Autonomous OT cybersecurity expertise solutions operations Gas and LNG • Gas processing and treating Refining and petrochemicals • Liquefaction and modular LNG • Process technology and licensing • Automation systems and software • Digital, optimization
Slide 63: PA&T | Portfolio of integrated solutions
PA&T | Portfolio of integrated solutions Cross-portfolio customer Line of business Composition of 2025 sales Value creation drivers examples Proprietary technologies and engineering that ExxonMobil Process technology enable customers to build advantaged facilities with and equipment superior economi
Slide 64: PA&T | Integrated, differentiated value creation
PA&T | Integrated, differentiated value creation Monetize installed base Software Introduce Services new products Grow installed Products and base Projects Process technology Systems integration and Connected plant Catalysts equipment Process industries Process design Engineering 2-5 years Build 2-5
Slide 65: PA&T | Why we win
PA&T | Why we win Competitive differentiators Select proof points Driving global refining and petrochemical Technology supports production of 70% of global gasoline | innovation for 100+ years Automation across 60% of refineries globally Process automation, technology and equipment Technology suppor
Slide 66: PA&T | Unlocking incremental growth
PA&T | Unlocking incremental growth MSD Driving incremental growth through: 1 Higher-growth verticals, shifting business mix (gas and LNG, life sciences, low carbon Growth energy and grid infrastructure) algorithm LSD 2 Expanding ARR through services and software growth 1 2 3 Core market Growth High
Slide 67: PA&T | Higher-growth verticals - LNG
PA&T | Higher-growth verticals - LNG 1 2 3 Vertical mix1 Integrated LNG offering Honeywell UOP Honeywell LNG 30% Higher gas pretreatment liquefaction growth Feed LNG Mature 70% gas Honeywell Process Honeywell Sundyne Honeywell CCC Automation pumps and compressors turbomachinery controls controls and
Slide 68: PA&T | Higher-growth verticals – Life sciences
PA&T | Higher-growth verticals – Life sciences 1 2 3 Sales growth1 14% Integrated life sciences portfolio Speed to market with Quality-as-an-“asset” with Energy optimization a software defined integrated environment, leading to highly 2024 2026E architecture quality and process control sustainable o
Slide 69: PA&T | Monetizing installed base
PA&T | Monetizing installed base 1 2 3 Vast and diverse installed base… …provides unparalleled foundation for incremental growth Number of Number on % Connected • Control system services Process • OT cybersecurity solutions systems service contracts systems Automation • Outcome-based software suite
Slide 70: PA&T | Cross-sell framework
PA&T | Cross-sell framework 1 2 3 Clear ownership through • Unified accountability across portfolios Success stories organizational structure • Customer and vertical aligned teams 1 ADNOC LNG (UAE) | Integrated control system and digital suite combined with LNG liquefaction technology, enabling effi
Slide 71: PA&T | Medium-term framework
PA&T | Medium-term framework Three-year targets MSD ~25% Organic sales growth Segment margin Growth drivers Honeywell Accelerator enables best-in-class execution Higher-growth verticals shifting business mix • Unparalleled domain expertise coupled with vast installed base Demand-driven volume levera
Slide 72: Panel discussion and Q&A session
Panel discussion and Q&A session 1
Slide 73: Honeywell Forge platform
Honeywell Forge platform Suresh Venkatarayalu Chief Technology Officer and President, Honeywell Connected Enterprise
Slide 74: Why Honeywell Forge matters
Why Honeywell Forge matters SEAMLESS DATA CONNECTIVITY | DOMAIN KNOWLEDGE | DETERMINISTIC MODELS Provide a secure, reliable and consistent experience to deliver domain specific outcomes Frictionless Ontology Built for Bridges IT and OT (data + domain connectivity knowledge + AI models) regulated ind
Slide 75: Evolution of Honeywell Forge | 2018 to 2024
Evolution of Honeywell Forge | 2018 to 2024 Public cloud 1 Began in 2018 with enterprise software and SAAS products designed to improve operational throughput performance 2 Primary focus was around domain-specific workflow applications and software products leveraging deterministic (AI) models INDUS
Slide 76: What changed in 2025?
What changed in 2025? Physical AI cloud 1 In 2025, drove strategic shift towards physical AI, enabling path towards autonomous buildings and plants 2 The “New” Honeywell Forge is built on deep domain Honeywell Forge cloud expertise, contextualizing ~5M connected assets across Buildings | Industrial
Slide 77: Honeywell Forge business models and evolution
Honeywell Forge business models and evolution Connectivity HON Forge digital services HON Forge Performance+ Automation to autonomy Data-driven insights Intelligent human assistance Software-driven outcomes Closed loop operations Business model evolution 2020 > 2024 > 2025 > 2026E Basic visibility -
Slide 78: Enabled Services
Honeywell Forge business models and evolution – case study 1 Connectivity HON Forge digital services HON Forge Performance+ Automation to autonomy Data-driven insights Intelligent human assistance Software-driven outcomes Closed loop operations Business model evolution 2020 > 2024 > 2025 > 2026E Pro
Slide 79: Connected Life Safety Services
Honeywell Forge business models and evolution – case study 2 Connectivity HON Forge digital services HON Forge Performance+ Automation to autonomy Data-driven insights Intelligent human assistance Software-driven outcomes Closed loop operations Business model evolution 2020 > 2024 > 2025 > 2026E Bui
Slide 80: Automation to autonomy in action – case study
Automation to autonomy in action – case study 3 Connectivity HON Forge digital services HON Forge Performance+ Automation to autonomy Data-driven insights Intelligent human assistance Software-driven outcomes Closed loop operations Business model evolution 2020 > 2024 > 2025 > 2026E Process Automati
Slide 81: Honeywell Forge in action – Demo of NVIDIA Voyager campus
Honeywell Forge in action – Demo of NVIDIA Voyager campus Santa Clara, California 81
Slide 82: Partnership spotlight: Google Cloud
Partnership spotlight: Google Cloud Thomas Kurian Chief Executive Officer Google Cloud 82
Slide 83: Automation to autonomy – the future
Automation to autonomy – the future Assets People Processes work harder work smarter work more efficiently Control Intelligent Expert Integrated Remote And optimize assets people central operation management Bridge AI and controls to AI and controls combine Zero-harm operations with Digital-first wa
Slide 84: Financial framework for accelerated value creation
Financial framework for accelerated value creation Mike Stepniak Senior Vice President and Chief Financial Officer
Slide 85: Key messages
Key messages 1 Transformed and simplified the Honeywell portfolio 4 Revamped value creation engine fueled by new product introductions 2 De-risked the balance sheet to unlock stronger free cash flow generation 5 Driving towards 10%+ adjusted annual EPS growth through 2029 3 Rapidly eliminating stran
Slide 86: Strong execution culture
Strong execution culture Industrial Automation portfolio optimization Divested lower growth and margin businesses (100+ bps segment margin uplift)1 PPE sale closed May 2025, PSS and WWS sales expected to close 2H 2026 Solstice spin-off Less cyclicality and capex intensity Oct 2025 Legacy liabilities
Slide 87: Who we are
Who we are Global pure-play automation company delivering mission-critical outcomes for our customers ~$17B 1 ~$4B ~21% Sales* Segment Profit *2 Segment Margin*2 >10% 7% 14% 37% ~40% Sales 1 42% Monetize Sales1 Grow Sales1 43% by segment installed ~30% by business installed by region base model base
Slide 88: Value creation engine
Value creation engine 1 4% - 6% Organic growth 2 60+ bps Annual segment margin expansion 3 Prudent capital allocation framework Stronger top line Enhanced profitability Enabled by 90%+ FCF conversion • Faster pace of new product introductions • Right-sized cost structure post spin and • Lower capex
Slide 89: Accelerating above-market sales growth
Accelerating above-market sales growth 1 2 3 Growth framework Growth drivers +1% • Attractive positions in growing end markets where we Organic (2%) +3% demonstrate strong offering differentiation Organic 4% - 6% Organic growth • Emerging NPI strategy fueled by R&D step-up, driving double-digit NPI
Slide 90: Recurring services and software by the numbers
1Recurring services and software by the numbers 1 2 3 >$2B recurring services and software Highlights • Targeting >45% portfolio mix of services 20% and software (up from ~40% today) 30% • ARR consists of software maintenance ~40% ~$2.3B 38% agreements, term licenses, services and recurring digital
Slide 91: Thoughtfully growing portfolio with M&A
Thoughtfully growing portfolio with M&A 1 2 3 Access Solutions LNG LNG CatalystTechnologies Catalyst Technologies Close date 2023 2023 2024 2024 2025 2025 2026 Purchase price $670M $55M $4,950M $1,810M $2,160M $28M $1,750M (pending) Effective multiple1 13.7x N/A 12.8x 11.5x 14.5x 4.8x 12.8x 2025 Rev
Slide 92: Segment margin progression
Segment margin progression 1 2 3 Strategic actions drive ~200 bps expansion Clear, credible path to ~22% by ~60 bps • Divestitures of PSS and WWS improve margin profile annually ~24% end of 2026 by ~100 bps1 after 2026 22.9% (310) bps 100 bps • Stranded costs eliminated within 12 months post spin 15
Slide 93: Path to 60+ bps annual margin expansion
Path to 60 bps annual margin expansion 1 2 3 Target Proof points • Stronger discipline and execution 3% - 4% 1 Price annually • Revamped new product introduction engine • Enabled by customer centricity and product differentiation >45% • Mix benefit as cross-selling opportunities and NPI vitality inc
Slide 94: Aggressively eliminating stranded costs
Aggressively eliminating stranded costs 1 2 3 Fixed cost % of sales ~500 bps improvement ~$290M • ~$290M stranded costs left with Honeywell Technologies following aerospace spin off, net of personnel and non-personnel transfers to Honeywell Aerospace ~$205M Repositioning • Executing plan to remove ~
Slide 95: Path to 10%+ annual adjusted EPS growth
Path to 10%+ annual adjusted EPS growth 1 2 3 10%+ Reaffirming 2026 guidance on annual growth operational basis $10.50 ($0.85) ~$6.00 • 2026 outlook accounts for lost earnings ~$0.19 ~($5.50) from aerospace, stranded costs, and announced divestitures ~($0.29) $3.95 - ~$0.00 $4.15 • Excluding pension
Slide 96: Stronger free cash flow conversion
Stronger free cash flow conversion 1 2 3 Targeting 90%+ conversion 2027 - 2029 • Now excludes non-cash pension income from 90%+ adjusted earnings, +600 bps to FCF conversion in conversion 2026 ~80% >$3.0B • Lower cash interest payments following debt conversion paydown ~$2.0B • Assumes adjusted effe
Slide 97: Strategically deploying capital
Strategically deploying capital 1 2 3 Near term Prioritizing debt repayment to maintain strong, investment grade credit rating; Targeting gross leverage <3.0x and flat share count Medium-term priorities Returning excess capital Growth investments to shareholders Bolt-on M&A Targeting acquisitions in
Slide 98: Medium-term framework
Medium-term framework Updated 2026 guidance 2H26 guidance Three-year targets Organic Growth 4% - 6% Annual recurring revenue 2% - 3% 3% - 5% ~15% annual recurring software revenue growth Segment Margin 19.8% - 20.3% 20.9% - 21.6% ~24% Expansion ~60 bps average annual Up 220 - 270 bps1 Up 310 - 380 b
Slide 99: Q&A session
Q&A session 2
Slide 100: Closing remarks
Closing remarks Vimal Kapur Chief Executive Officer
Slide 101: Why own Honeywell Technologies?
Why own Honeywell Technologies? 1 A transformed and simplified Honeywell portfolio 2 Differentiated pure-play, global automation leader benefitting from secular tailwinds 3 Portfolio mix and business model approach enabling 10%+ annual adjusted earnings growth with 90%+ free cash flow conversion 4 O
Slide 102: Thank you for joining us
UJ Te HORS Yies | 2026 Investor Da Thank you for joining us
Slide 103: Leadership team bios
Leadership team bios
Slide 104: Honeywell Technologies leadership team bios
Honeywell Technologies leadership team bios Vimal Kapur Billal Hammoud Peter Lau Chairman and Chief Executive Officer, Chief Executive Officer, Chief Executive Officer Building Automation Industrial Automation Vimal brings nearly four decades of deep automation Prior to his role as president and CEO
Slide 105: Honeywell Technologies leadership team bios
Honeywell Technologies leadership team bios Ken West Jim Masso Suresh Venkatarayalu Chief Executive Officer, Chief Executive Officer, Chief Technology Officer and President Honeywell Process Technology Process Automation Connected Enterprise Ken has held several roles with increasing Jim joined Hone
Slide 106: Honeywell Technologies leadership team bios
Honeywell Technologies leadership team bios Mike Stepniak Sheila Jordan Eric Seidel Chief Financial Officer Chief Digital Technology Officer Chief Commercial Officer Mike joined Honeywell in 2020. Most recently, he was Sheila has broad oversight and responsibility for IT Eric has responsibility for
Slide 107: Honeywell Technologies leadership team bios
Honeywell Technologies leadership team bios Anne T. Madden Su Ping Lu Karen Mattimore SVP, Portfolio Transformation General Counsel and Corporate Secretary Chief Human Resources Officer Anne is responsible for leading Honeywell’s portfolio Su is responsible for leading Honeywell's global legal, Kare
Slide 108: Honeywell Technologies leadership team bios
Honeywell Technologies leadership team bios Scott Hillpot Anant Maheshwari Chief Integrated Supply Chain Officer Chief Strategy Officer and Chief Executive Officer, Global Regions Scott leads Honeywell's Integrated Supply Chain, a global network of 100+ factories and distribution centers Anant drive
Slide 109: Appendix
Appendix uu Te Heageeyies | 2026 Investor Day
Slide 110: Acronyms
Acronyms ARR: Annualized value of recurring services and software BMS: Building Management Systems DCIM: Datacenter Information Management Systems EBI: Enterprise Buildings Integrator EPMS: Electrical Power Management System GBS: Global Business Services HPS: Honeywell Process Solutions HSS: Honeywe
Slide 111: Appendix: Non-GAAP Financial Measures
Appendix Non-GAAP Financial Measures The following information provides definitions and reconciliations of certain non-GAAP financial measures presented in this presentation to which this reconciliation is attached to the most directly comparable financial measures calculated and presented in accord
Slide 112: Reconciliation of Net Sales to Net Sales Excluding Spin-off and Divestiture Impact
Reconciliation of Net Sales to Net Sales Excluding Spin-off and Divestiture Impact ($M) 2025 Honeywell Net sales $ 37,442 Less: Net sales attributable to Aerospace Technologies 17,510 Less: Net sales attributable to Productivity Solutions and Services 1,132 Less: Net sales attributable to Warehouse
Slide 113: Reconciliation of Organic Sales Percent Change and Organic Sales Percent Change Excluding Divestiture Impact
Reconciliation of Organic Sales Percent Change and Organic Sales Percent Change Excluding Divestiture Impact 2024 2025 2024 2025 Building Automation Process Automation and Technology Reported sales percent change 8% 13% Reported sales percent change 4% 9% Less: Impact of divestitures to the prior pe
Slide 114: Reconciliation of Organic Sales Percent Change Excluding Spin-off Impact, Calculation of LTM Average Organic Growth
Reconciliation of Organic Sales Percent Change Excluding Spin-off Impact, Calculation of LTM Average Organic Growth 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Honeywell Reported sales percent change 2% 4% 2% 2% 5% 6% 8% 9% 9% 7% 6% Less: Impact of divestitures to the prior period —% —% —
Slide 115: Reconciliation of Operating Income to Segment Profit Excluding Spin-off and Divestiture Impact
Reconciliation of Operating Income to Segment Profit Excluding Spin-off and Divestiture Impact, Calculation of Segment Profit Margin Excluding Spin-off and Divestiture Impact 2025 Excluding Spin-off Less: Spin-off and and Divestiture ($M) As Reported Divestiture Impact(1) Impact Operating income $ 5
Slide 116: Reconciliation of Industrial Automation Segment Profit to Segment Profit Excluding Divestiture Impact
Reconciliation of Industrial Automation Segment Profit to Segment Profit Excluding Divestiture Impact, Calculation of Segment Profit Margin Excluding Divestiture Impact ($M) 2025 Industrial Automation Segment profit $ 893 Net sales 6,098 Segment profit margin 14.6 % Segment profit $ 893 Less: Divest
Slide 117: Reconciliation of EPS To Adjusted EPS Excluding Spin-off and Divestiture Impact
Reconciliation of EPS To Adjusted EPS Excluding Spin-off and Divestiture Impact 2026E 2H26E Guidance Excluding Less: Spin-off and Spin-off and Previous Guidance Divestiture Impact(1) Divestiture Impact Guidance Earnings per share of common stock from continuing operations - diluted(2) $8.87 - $9.17
Slide 118: Reconciliation of EPS To Adjusted EPS Excluding Spin-off and Divestiture Impact
Reconciliation of EPS To Adjusted EPS Excluding Spin-off and Divestiture Impact 1. Excludes the impacts attributable to the Aerospace Technologies business, which is expected to spin-off on June 29, 2026, and attributable to Quantinuum, due to its initial public offering on June 4, 2026. 2. For the
Slide 119: Reconciliation of EPS To Adjusted EPS Excluding Spin-off and Quantinuum Divestiture Impact
Reconciliation of EPS To Adjusted EPS Excluding Spin-off and Quantinuum Divestiture Impact 2025 2H25 Excluding Spin-off Excluding Spin-off Less: Spin-off and and Divestiture Less: Spin-off and and Divestiture As Reported Divestiture Impact(1) Impact As Reported Divestiture Impact(1) Impact Earnings
Slide 120: Reconciliation of EPS To Adjusted EPS Excluding Spin-off and Quantinuum Divestiture Impact
Reconciliation of EPS To Adjusted EPS Excluding Spin-off and Quantinuum Divestiture Impact 1. Excludes the impacts attributable to the Aerospace Technologies business, which is expected to spin-off on June 29, 2026, and attributable to Quantinuum, due to its initial public offering on June 4, 2026.
Slide 121: Reconciliation of Expected Cash Provided by Operating Activities to Expected Free Cash Flow
Reconciliation of Expected Cash Provided by Operating Activities to Expected Free Cash Flow Excluding Spin-off and Divestiture Impact 2026E 2H26E Guidance Excluding Guidance Excluding Less: Spin-off and Spin-off and Spin-off and ($B) Previous Guidance Divestiture Impact(1) Divestiture Impact Divesti
Slide 122: Reconciliation of Net Sales and R&D Expense Excluding Spin-off, Divestiture, and Quantinuum Impact
Reconciliation of Net Sales Excluding Spin-off, Divestiture, and Quantinuum Impact and R&D Expense Excluding Spin-off, Divestiture, and Quantinuum Impact, Calculation of R&D Expense Percentage of Net Sales Excluding Spin-off, Divestiture, and Quantinuum Impact ($M) 2020 2021 2022 2023 2024 2025 Net
Slide 123: Reconciliation of Net Sales and Fixed Cost Excluding Spin-off Impact
Reconciliation of Net Sales Excluding Spin-off Impact and Fixed Cost Excluding Spin-off Impact, Calculation of Fixed Cost Percentage of Net Sales Excluding Spin-off Impact ($M) 2025 Net sales $ 37,442 Less: Aerospace Technologies 17,510 Net sales excluding spin-off impact $ 19,932 Fixed cost(1) $ 10