Slide 1: Second-Quarter 2026 Results
Second-Quarter 2026 Results July 30, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes “forward-looking" statements within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to our future financial performance and targets, including revenue, EPS, operating income, op
Slide 3: Focused Strategy Delivers Differentiated Shareholder Returns
CLEAR PRIORITIES 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 business operating system Up
Slide 4: Consistent Execution — Record Bookings and Backlog, Raised FY Guidance
Q2 2026 UPD AT E Consistent Execution — Record Bookings and Backlog, Raised FY Guidance Strong Q2 Results Multiple Drivers Underpin Durable Growth • Organic revenue* +9%, led by Americas CHVAC, services, • Americas CHVAC applied bookings +130% — 4th straight residential quarter >100%; backlog up ~90
Slide 5: Strong Demand for CHVAC Globally with Standout Performance in the Americas
Q2 2 0 2 6 O R G ANI C B OOK I NG S A N D R EV EN UES Strong Demand for CHVAC Globally with Standout Performance in the Americas Q2 Organic* Y-O-Y Change Bookings Revenue Enterprise + 37% + 9% Americas + 43% + 11% Americas Commercial HVAC + + • Exceptional CHVAC bookings / revenues, up 50% / up low-
Slide 6: Performance Scoreboard: Solid Revenue & EPS Growth
Q 2 2 0 2 6 E N T E R P R I S E R E S U LT S Performance Scoreboard: Solid Revenue & EPS Growth Net Revenue Adj. EBITDA Margin* Adj. Operating Margin* Adj. Continuing EPS* +9% -70 -60 +11% Organic* bps bps $6,354 $4.31 21.8% 21.1% $5,746 20.3% 19.7% $3.88 Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2
Slide 7: Margins In Line with Expectations Including Accelerated Investments
Q 2 2 0 2 6 S E G ME N T R E S U LT S Margins In Line with Expectations Including Accelerated Investments Adj. Revenue Adj. OI*% EBITDA*% Highlights $M Org.* Growth vs PY vs PY Americas $5,271.3 23.5% 22.1% • Americas margins impacted by ramp in business reinvestments to +11% -50 bps -30 bps support
Slide 8: FY 2026 Outlook Strong: Record Bookings & Backlog Support Robust Growth in 2027
M A R K E T U P D AT E FY 2026 Outlook Strong: Record Bookings & Backlog Support Robust Growth in 2027 Commercial HVAC • Strong demand across data centers and core markets (K-12, office/warehouse, high-tech industrial) • Q2 book-to-bill ~135%; backlog up ~90% YOY with a robust project pipeline • Acc
Slide 9: Leveraging Value Creation Flywheel to Drive Strong Revenue, EPS Growth and FCF in 2026
2026 GUIDANCE Leveraging Value Creation Flywheel to Drive Strong Revenue, EPS Growth and FCF in 2026 January 29th FY Guidance April 30th FY Guidance Current FY Guidance* Organic +6% to +7% ~+7% ~+9% Revenues** (~+8.5% to ~+9.5% reported, incl. M&A & FX) (~+9.5% reported, incl M&A & FX) (~+11.5% repo
Slide 10: Accelerated Performance in 2H 2026, Strong Momentum into 2027
KEY METRICS IN SECOND HALF Accelerated Performance in 2H 2026, Strong Momentum into 2027 METRIC 1H 2026 2H 2026 (Guidance Mid-Point) ORGANIC REVENUE* GROWTH 6.5% 11.5% ADJUSTED EPS* GROWTH 9.6% 23.5% BACKLOG ENTERING PERIOD $7.8B $12.1B *Includes certain Non-GAAP financial measures. See the company’
Slide 11: Strong FCF Drives Continued Balanced Capital Deployment Strategy
Strong FCF Drives Continued Balanced Capital Deployment Strategy 1 2 3 Maintain Healthy, Return Capital to Invest for Growth Efficient Balance Sheet Shareholders • Strengthen the core business • Expect to deliver FCF* ≥ 100% • Expect to consistently deploy and extend product & market of adjusted net
Slide 12: On Track to Deploy $2.8B - $3.3B in 2026
BAL AN C ED CA PI TAL D EPL O YME N T On Track to Deploy $2.8B - $3.3B in 2026 • Increased dividend 12% in 2026 to $4.20 YTD Actual & Target FY Committed per share annualized, up 98% since the July 2026 2026 launch of Trane Technologies (March 2020) • Share repurchases of ~$0.8B YTD 2026, Dividends
Slide 13: Topics of Interest
a 4 Topics of Interest TECHNOLCG ES
Slide 14: ACT Projecting 2H 2026 Market Recovery; Strong Growth 2027 - 2030
TOPICS OF INTEREST ACT Projecting 2H 2026 Market Recovery; Strong Growth 2027 - 2030 ACT North America Trailer Market Outlook Comments Units in 000’s • ACT 2026 trailer market forecast to ~28.3K, or up ~12% YOY, 50 with recovery weighted to 2H 2026 40 • TT model more conservative given trailer OEM 3
Slide 15: Positioned to Outperform Over the Long-Term
IN SUMMARY Positioned to Outperform Over the Long-Term Secular The markets we serve expected to continue to outgrow Tailwinds GDP, fueled by long-term sustainability megatrends Sustainability We are positioned to outgrow the market and expand Focused Innovation margins with market-leading sustainabl
Slide 16: Appendix
Appendix
Slide 17: FY'26 Detailed Guidance for Modeling Purposes
2026 GUIDANCE FY’26 Detailed Guidance for Modeling Purposes Metric FY Guidance 2026 Commentary • ~25%+ organic leverage* for FY’26 Organic Revenue* ~+9% • Impact of M&A on organic vs reported leverage expected to be ~700 bps (reported leverage lower on modest M&A OI contribution due to year one acqu
Slide 18: Trane Technologies Sustainability Strategy
SUSTAINABILITY COMMITMENTS Trane Technologies Sustainability Strategy Global Megatrends Our 2030 Commitments The Gigaton Challenge Leading by Example Opportunity for All Reduce one gigaton of carbon Achieve carbon neutral operations, zero Invest in our people, culture and CLIMATE CHANGE DEMOGRAPHICS
Slide 19: Delivering performance through sustainability
A LEGACY OF ACTION Delivering performance through sustainability 18
Slide 20: Widely Recognized for Sustainability Leadership and Uplifting Culture
SUSTAINABILITY LEADER Widely Recognized for Sustainability Leadership and Uplifting Culture Highly Regarded Sustainability Performance People and Citizenship TIME World’s Most Corporate Knights Sustainable Companies USA 25 Most Fortune 2026 World’s Third consecutive year, Sustainable Corporations Mo
Slide 21: Q2 YoY Organic Revenues up 9%; Bookings up 37%
Q2 YoY Organic Revenues up 9%; Bookings up 37% Organic* Revenue 2023 2024 2025 2026 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Americas +8% +9% +11% +7% +9% +15% +16% +15% +11% +14% +13% +9% +4% +5% +7% +4% +11% EMEA +15% +8% +3% +8% +8% +4% +5% +8% +7% +6% +6% +3% +3% +2% +3% -1% -4% Asia +
Slide 22: YTD Non-GAAP Measures Definitions
YTD Non-GAAP Measures Definitions Adjusted operating income in 2026 is defined as GAAP operating income adjusted for merger and acquisition transaction costs, amortization of acquired backlog intangible asset and restructuring costs. Adjusted operating income in 2025 is defined as GAAP operating inc
Slide 23: YTD Non-GAAP Measures Definitions
YTD Non-GAAP Measures Definitions Adjusted effective tax rate for 2026 is defined as the ratio of income tax expense adjusted for the net tax effect of adjustments for merger and acquisition transaction costs, amortization of acquired backlog intangible asset and restructuring costs divided by adjus