Caterpillar, Inc. · NYSE:CAT
Caterpillar — Investor Presentation (March 2026)
28 slides from Caterpillar's investor presentation, March 2026
Slide 1: Power & Energy Overview
POWER & ENERGY OVERVIEW We Build A Better, More Sustainable World POWER & ENERGY
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements in this financial review relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “estimate,” “will be,” “will,” “would,” “expect,” “a
Slide 3: Power & Energy: Caterpillar's Largest and Fastest Growing Segment in 2025
Power & Energy: Caterpillar’s Largest and Fastest Growing Segment in 20251 Financial Products Segment (FP) $4.2B Resource Industries Diversified portfolio Attractive profitable (RI) Power & Energy that includes growth opportunities $15.9B $28.6B • Power Generation • Data Centers • Oil & Gas • Distri
Slide 4: Power & Energy Serves Diverse End Markets
Power & Energy Serves Diverse End Markets Leveraging Synergies Across Industries With Deep Expertise POWER GENERATION 43% OIL & GAS 32% 25% INDUSTRIAL • Engines and turbines generate • Solutions support extraction • Engines power our Cat© machines primary and backup power and production of natural g
Slide 5: Power & Energy Product Portfolio
Power & Energy Product Portfolio Comprehensive Product Offerings for Our Customers’ Growing Needs POWER GENERATION OIL & GAS INDUSTRIAL ENERGY STORAGE RECIP DIESEL DIESEL AND GAS SWITCHGEAR SYSTEMS & GAS ENGINES GENERATOR SETS MOBILE POWER UNITS SOLAR GAS TURBINE RECIPROCATING DIESEL GENERATOR SETS
Slide 6: Supporting Customers Through the Power & Energy Value Chain
Supporting Customers Through the Power & Energy Value Chain We Have the Broadest Group of Solutions to Make Our Customers More Successful CLICK TO SEE OUR PORTFOLIO [pg. 33] POWER & ENERGY 6
Slide 7: Power Generation
POWER 43% GENERATION1 Improving Energy Resiliency and Reliability Through Products, Services and Digital Offerings Reciprocating engines2 and turbines Reciprocating engines2 and turbines KEY TO SUPPORT DATA CENTERS, UTILITIES, HOSPITALS, PRODUCTS USING NATURAL GAS TO POWER DATA CENTERS, UTILITIES, C
Slide 8: Oil & Gas
32% OIL & GAS1 1 Customized Sustainable Customer Solutions in a Heavily Services-Biased Business KEY Reciprocating engines2 Reciprocating engines2, Turbines and PRODUCTS hybrid drill rig transmissions, pumps, flow iron reciprocating engines2 Natural gas engines, microgrids, Oil & gas, natural gas, a
Slide 9: Industrial: Optimized Engines to Drive Lower Costs
25% INDUSTRIAL1 Reliability, Durability and Services Support Differentiate Our Engines KEY PRODUCTS Reciprocating engines2 Reciprocating engines2 Reciprocating engines2 FOR CONSTRUCTION AND MINING EQUIPMENT FOR APPLICATIONS IN CONSTRUCTION, AG, DEFENSE, FOR COMMERCIAL AND GOVERNMENT INDUSTRIAL, ELEC
Slide 10: Strategic Focus on Services Growth
Strategic Focus on Services Growth Stable Revenue Sources That Promote Customer Uptime GROWTH IN CONTINUOUSLY MORE SERVICES 24/7 RUNNING APPLICATIONS Distributed generation >40x 30-40 Data center primary power SERVICES REVENUES 1 YEARS OF SERVICES PRIMARY VS. BACKUP POWER 2 FOR GAS TURBINES Natural
Slide 11: Strategic Focus on Services Growth
Strategic Focus on Services Growth Stable Revenue Sources That Promote Customer Uptime SERVICES & SOLUTIONS REMANUFACTURING TURBINE OVERHAUL ▪ Digital Performance & Condition ▪ Like-New Performance with ▪ Minimized downtime enabled through Health Monitoring Same-As-New Warranty our turbine exchange
Slide 12: Growth Opportunities
GROWTH OPPORTUNITIES We Build A Better, More Sustainable World POWER & ENERGY
Slide 13: Power & Energy is Positioned for Sustained, Strategic Growth Through 2030
Power & Energy is Positioned for Sustained, Strategic Growth Through 2030 and Beyond > 2x Sales Historic growth in overall power and energy with an evolving mix Power Gen 2x Capacity Uniquely positioned to capture tremendous growth opportunity Large Engines1 2.5x Capacity Executing a well-establishe
Slide 14: The World Needs More Energy
The World Needs More Energy Evolving Energy Landscape Demands Our Solutions G LOB A L E N E RGY D E M A N D OIL & GAS At least 50% of total energy now through 2035, +67 EXAJOULES with natural gas becoming increasingly important 13x the energy needed to power all U.S. households each year RENEWABLES
Slide 15: Historic Electricity Demand Creates Opportunities
Historic Electricity Demand Creates Opportunities Ensuring Customer Success With Fast and Reliable Solutions GROWTH OPPORTUNITIES FU T U R E O F E N E RGY 2023 - 2035 PRIMARY AND BACKUP POWER TO SUPPORT AI AND DATA CENTERS +48% +200% RELIABLE DISTRIBUTED GENERATION AND GRID SUPPORT GLOBAL GLOBAL DAT
Slide 16: We are Uniquely Positioned for Growth
We are Uniquely Positioned for Growth Investing in Our Unmatched Portfolio of Engines and Turbines DIFFERENTIATORS + Broad portfolio of reciprocating engines DIESEL GAS GAS TURBINE1 (up to 10MW) and turbines (up to 39MW) + Best-in-class products – efficiency and power density COMPANY A + Common prod
Slide 17: Strategically Expanding to Meet Record Backlog
Strategically Expanding to Meet Record Backlog Investing to Meet Our Customers’ Needs LARGE ENGINES GAS TURBINES 2X 2.5 X CAPACITY CAPACITY COMPARED TO 2024 1 COMPARED TO 2024 ADDING CAPACITY ANNUALLY THROUGH END OF THE DECADE 1 Previously announced as 2.25x compared to 2023, now rebased to 2024. PO
Slide 18: Data Centers: Turbines and Engines for Primary and Backup Power
Data Centers: Turbines and Engines1 for Primary and Backup Power RECIPS AND TURBINES USED FOR PRIMARY POWER Reciprocating engines and Turbines for PRIMARY / BRIDGE POWER Reciprocating engines1 for BACKUP POWER LARGE DATA CENTERS Runs CAT ENGINES USED FOR BACKUP POWER CAN EXCEED 24/7 EQUIVALENT 2 TO
Slide 19: Delivering Site-Level Solutions for Data Centers
Delivering Site-Level Solutions for Data Centers Our Unmatched Portfolio and Deep Expertise is Satisfying Customer Demand for Energy Solutions AMERICAN INTELLIGENCE & POWER (AIP) WILLIAMS 2 GW OF DEDICATED PRIMARY POWER FOR HELPING TRADITIONAL OIL & GAS CUSTOMERS PURSUE HYPERSCALE AI INFRASTRUCTURE
Slide 20: Distributed Generation: Our Solutions Promote Reliable Power
Distributed Generation: Our Solutions Promote Reliable Power What is Distributed Generation? Production of electricity from localized, non-utility grid energy sources placed close to where the electricity is used. COMBINED HEAT TEMPORARY OR & POWER PERMANENT POWER MICROGRIDS Cat® Solutions Include S
Slide 21: Steady Growth in Natural Gas Supports Increasing Demand for Energy
Steady Growth in Natural Gas Supports Increasing Demand for Energy Increasing Importance of Natural Gas as a Transition Fuel OUR OPPORTUNITIES ILLING DR SERVIC LL I +15% 5000 WE NG MPRESS 2023 - 2035 CO Billions of Cubic Meters ION GAS 4000 STREA WN DO M 3000 2010 2023 2035 GLOBAL NATURAL GAS DEMAND
Slide 22: Drilling and Well Servicing for Natural Gas and Oil Extraction
UPSTREAM Drilling and Well Servicing for Natural Gas and Oil Extraction SPM Growing Trend • Large Bore Manifold • Frac Hose Customers Leverage Natural Gas to Generate Power to Support Data Centers and the utility grid Cat® Solutions Include ▪ Reciprocating Engines1 ▪ Transmissions ▪ Pumps ▪ Pressure
Slide 23: Gas Compression and Power Generation Support LNG Production
MIDSTREAM DOWNSTREAM Gas Compression and Power Generation Support LNG1 Production TITAN 250 COMPRESSOR SET Both run 24/7 CAT 3500 & 3600 ENGINES2 CAT ENGINE FOR COMPRESSES NATURAL GAS BACKUP POWER Natural gas-powered Reciprocating Engines2 Natural gas-powered Solar Turbines compress gas down pipelin
Slide 24: Sustainable & Cost-Effective Options
Sustainable & Cost-Effective Options Investing in Technology to Make Customers More Efficient and Sustainable C13D G3520 G3520K MORE SCALEABLE, 20-25% POWER, LOWER COST LOWER CO2 LESS FUEL SOLUTIONS EMISSIONS1 NEXT GENERATION DIESEL GAS MECHANICAL SYSTEM NATURAL GAS High power density engines with C
Slide 25: Delivering Sustainable Solutions Through Services
Delivering Sustainable Solutions Through Services We Build a Better, More Sustainable World DIGITAL FLEET REMANUFACTURING TURBINE EXCHANGE OPTIMIZATION SOLUTIONS PROGRAM Fleet monitoring solutions optimize Supports the circular economy and a Like-new, factory tested equipment with operations through
Slide 26: Power & Energy: Caterpillar's Largest and Fastest Growing Segment in 2025
Power & Energy: Caterpillar’s Largest and Fastest Growing Segment in 20251 Financial Products Segment (FP) $4.2B Resource Industries Diversified portfolio Attractive profitable (RI) Power & Energy that includes growth opportunities $15.9B $28.6B • Power Generation • Data Centers • Oil & Gas • Distri
Slide 27: Thank You
THANK YOU We Build A Better, More Sustainable World POWER & ENERGY 27
Slide 28: Glossary
Glossary BACKUP/STANDBY POWER: Secondary source of power for an POWER DENSITY: The power generated from a given size of engine, e.g., application, turns on during power outage of primary source. our C13D engine has power ratings above many engines up to 2 classes For example, a hospital has backup p