Lennox International, Inc. · NYSE:LII
Lennox International — Merger or Acquisition (May 2025)
7 slides from Lennox International's merger presentation, May 2025
Slide 1: Lennox JV with Ariston
INTEGRITY | RESPECT | EXCELLENCE LENNOX JV WITH ARISTON MAY 2025
Slide 2: Growing Our Product Portfolio
GROWING OUR PRODUCT PORTFOLIO Gas Furnace / Complete home comfort Humidity with products designed to Air Handler Control make the perfect home environment with award- Air Purification / winning systems that are Filtration exceptionally quiet and energy efficient. Ventilation Heat pump / Air Conditio
Slide 3: Water Heater Expansion Rationale
WATER HEATER EXPANSION RATIONALE UNLOCKS ~$10B PROVIDES TECH & CHANNEL TOTAL ADDRESSABLE MARKET DISTRIBUTION LEVERAGE CONVERGENCE • Increasing energy efficiency ~9M ~$10B requirements and electrification increasing technology overlap due to Water heaters US wholesale heat pump penetration sold in
Slide 4: JVs Provide Growth Opportunities to Expand Product Categories
JVS PROVIDE GROWTH OPPORTUNITIES TO EXPAND PRODUCT CATEGORIES PRODUCT CATEGORY % OF DEALERS WHO SELL PARTNER Mini Splits ~75% Announced May 28, 2024 Water Heaters ~50% Announcing JV Partnership Source: Lennox Residential Brand Health Survey 2023 (n=736); 2025 ACHR System Options and Upgrades (n=2192
Slide 5: Lennox JV with Ariston
LENNOX JV WITH ARISTON Leading NAM HVAC OEM with reputation Active globally in sustainable climate and for innovation, quality, and reliability water comfort solutions Top 3 HVACR distributor with over 300 Tank-type water heater leader, top 3 in locations in North America over 40 counties, and top 5
Slide 6: Connect With Us
CONNECT WITH US Questions? Email investor@lennox.com Integrity | Respect | Excellence 6
Slide 7: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS The statements in this presentation that are not historical statements, including statements regarding the water heater growth trajectory and share of wallet, as well as any financial targets for future years, are forward-looking statements within the meaning of the Privat
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