Slide 1: First-Quarter 2026 Earnings Review
First-Quarter 2026 Earnings Review Thursday, May 7, 2026 Whirlpool Corporation Confidential Whirlpool Corporation Confidential
Slide 2: First-Quarter 2026 Earnings Review
First-Quarter 2026 Earnings Review Whirlpool Corporation Confidential Marc Bitzer Roxanne Warner Juan Carlos Puente Ludovic Beaufils CHAIRMAN AND EXECUTIVE VICE EXECUTIVE PRESIDENT, EXECUTIVE PRESIDENT, CHIEF EXECUTIVE PRESIDENT AND CHIEF NORTH AMERICA AND KITCHENAID SMALL OFFICER FINANCIAL OFFICER GL
Slide 3: 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 4: 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 5: Agenda
Agenda 1 First-Quarter Results 2 Critical Actions to Restore Profitability in North America 3 2026 Guidance and Capital Allocation Priorities Whirlpool Corporation Confidential 5
Slide 6: First-Quarter Performance Impacted by a Rapid Deterioration of Macro Environment
First-Quarter Performance Impacted by a Rapid Deterioration of Macro Environment War in Iran in late February drove global inflation and amplified concerns around cost of living Consumer sentiment plunged to the lowest level on record, impacting demand and preventing recovery from major winter storms
Slide 7: Consumer Sentiment Drops to Record Low
Consumer Sentiment Drops to Record Low U.S. CONSUMER SENTIMENT INDEX Whirlpool Corporation Confidential Lowest in History 2005 2010 2015 2020 2025 Source: University Of Michigan Consumer Sentiment Index Compounding pressure from persistent inflation, geopolitical turmoil and energy price shocks in lat
Slide 8: Industry Decline as a Result of Compounding Pressures
Industry Decline as a Result of Compounding Pressures March -10% Whirlpool Corporation Confidential Recession Years Source: AHAM Sell-in - U.S. Note: AHAM T6 Industry data includes electric and gas ranges, wall ovens, clothes washers and dryers, dishwashers, refrigerators and freezers. 8 *2026 YTD re
Slide 9: Industry Pricing Impacted by the IEEPA Tariff Ruling and Anticipation of Refunds
Industry Pricing Impacted by the IEEPA Tariff Ruling and Anticipation of Refunds IEEPA Ruling U.S. Appliance Industry Pricing (vs Jan ‘25) Whirlpool Corporation Confidential Competitor Average Source: Publicly available sell-out data Industry Pricing in the U.S. 9
Slide 10: 2026 First-Quarter Results
2026 First-Quarter Results PROFITABLE GROWTH ● Ongoing EBIT of 1.3% resulted in ongoing EPS of $(0.56), Net Sales YoY Change including $(0.32) impact of Beko Europe B.V. $3.3B (9.6)% (6.1)% organic ● MDA NAR performance severely impacted by sharp decline in consumer sentiment and inventory reduction
Slide 11: Ongoing EBIT Margin Drivers
Ongoing EBIT Margin Drivers (Approximate impact) Q1 2025 Ongoing EBIT Margin 5.9% Price/Mix -2.75 Net Cost* -1.75 Raw Material Inflation -0.50 Net Tariff Impact nm Whirlpool Corporation Confidential Marketing & Technology Investments +0.50 Currency +0.50 Transaction Impacts -0.50 2026 Ongoing EBIT Marg
Slide 12: MDA NAR First-Quarter Results
MDA NAR First-Quarter Results NET SALES ($B) EBIT ($M) EBIT MARGIN -13% -8% -92% -96% -2.5pts -5.9pts Q4 2025 Q1 2026 Q1 2025 Q4 2025 Q1 2026 Q1 2025 Q4 2025 Q1 2026 Q1 2025 Decline in consumer confidence due to Iran War prevented recovery from winter storms Whirlpool Corporation Confidential ● and re
Slide 13: MDA LAR First-Quarter Results
MDA LAR First-Quarter Results NET SALES ($B) EBIT ($M) EBIT MARGIN -17% 5% -22% -4% -0.4pts -0.6pts Q4 2025 Q1 2026 Q1 2025 Q4 2025 Q1 2026 Q1 2025 Q4 2025 Q1 2026 Q1 2025 Whirlpool Corporation Confidential ● Net sales excluding currency decreased ~4% year-over-year due to the aggressive promotional
Slide 14: SDA Global First-Quarter Results
SDA Global First-Quarter Results NET SALES ($B) EBIT ($M) EBIT MARGIN -20% 29% 7.2pts 2.5pts -48% 13% Q4 2025 Q1 2026 Q1 2025 Q4 2025 Q1 2026 Q1 2025 Q4 2025 Q1 2026 Q1 2025 Whirlpool Corporation Confidential ● Delivered ~10% net sales growth year-over-year excluding currency, supported by new produc
Slide 15: New Product Innovation Will Support Growth
New Product Innovation Will Support Growth ARTISAN PLUS STAND MIXER ® FULLY AUTOMATIC ESPRESSO MACHINE WITH ICED COFFEE 15
Slide 16: Agenda
Agenda 1 First-Quarter Results 2 Critical Actions to Restore Profitability in North America 3 2026 Guidance and Capital Allocation Priorities Whirlpool Corporation Confidential 16
Slide 17: Announced Largest Price Increase in More Than a Decade
Announced Largest Price Increase in More Than a Decade REDUCED PROMOTIONS DELIVER DRIVE AND PRODUCT PREMIUM PRICING ACTIONS INNOVATION MIX PROMOTIONAL LIST - KitchenAid new major appliances PRICE PRICE delivered strong sell-through in Q1 - Announced and - Announced in April, - New Whirlpool UV Laund
Slide 18: In Addition to Pricing, New Products Will Support Mix: Whirlpool Laundry Tower
In Addition to Pricing, New Products Will Support Mix WHIRLPOOL LAUNDRY TOWER Introducing Industry-First UV Clean Technology 18
Slide 19: In Addition to Pricing, New Products Will Support Mix
In Addition to Pricing, New Products Will Support Mix INTELLIGENT WALL OVEN Whirlpool Corporation Confidential 19
Slide 20: In Addition to Pricing, New Products Will Support Mix
In Addition to Pricing, New Products Will Support Mix Whirlpool Corporation Confidential Odor Fighting Sink Flange 20
Slide 21: Accelerating Cost Take Out Initiatives to Bring Business Back on Track
Accelerating Cost Take Out Initiatives to Bring Business Back on Track $150M+ cost take out expected in 2026, supported by ongoing Design to Value Vertically Automate Optimize Renew strategic Corporate integrate to improve footprint sourcing Center to improve quality, productivity, agility in manufa
Slide 22: Acceleration of Vertical Integration
Acceleration of Vertical Integration STRENGTHENING OUR U.S. MANUFACTURING FOOTPRINT ● $60M investment in new Ohio facility ● 11th factory in the United States ● 6th factory in the state of Ohio Whirlpool Corporation Confidential ~$30M annualized EBIT benefit 22
Slide 23: Acceleration of Factory Footprint Changes
Acceleration of Factory Footprint Changes UNLOCKING GREATER OPERATIONAL EFFICIENCIES WITHIN OUR REGIONAL MANUFACTURING FOOTPRINT AMANA, IA RIO CLARO, BR ● Multi-year modernization ● Front load production shift from Argentina ● Refocusing on bottom-mount refrigeration ● Manufacturing cost efficiency Wh
Slide 24: Section 232 is a Significant Win for U.S. Manufacturing
Section 232 is a Significant Win for U.S. Manufacturing SECTION 232 SUPPORTS U.S. MAJOR PREDICTABILITY & DURABILITY REGIONAL BEST COST APPLIANCES MANUFACTURERS STRENGTHENED LEADING SCALE POSITION Tariff rates as a % Section 232 Section 301 Total Tariff of product value as of Apr 6th, 2026 ● Section 232
Slide 25: Agenda
Agenda 1 First-Quarter Results 2 Critical Actions to Restore Profitability in North America 3 2026 Guidance and Capital Allocation Priorities Whirlpool Corporation Confidential 25
Slide 26: Revised 2026 Full-Year Guidance
Revised 2026 Full-Year Guidance PROFITABLE GROWTH MARGIN EXPANSION CASH CONVERSION LONG-TERM TARGETS ~$16.3B ~9.0% ~7.0% (MID-CYCLE) ANNUAL ORGANIC NET SALES ONGOING EARNINGS BEFORE INTEREST FREE CASH FLOW excludes India AND TAX, % OF NET SALES AS % OF NET SALES Net Sales YoY Change Ongoing EBIT YoY
Slide 27: Ongoing EBIT Margin Guidance
Ongoing EBIT Margin Guidance (Approximate impact) Previous Current Comments 2025 Ongoing EBIT Margin 4.7% 4.7% Price/Mix +1.75 +1.50 • Announced pricing actions in April Net Cost* +1.00 +1.00 • Cost actions expected to deliver $150M+ Raw Material Inflation nm -0.75 • Steel contracts at cap; oil/resin
Slide 28: 2026 Segment Guidance
2026 Segment Guidance Industry EBIT % Previous Current Previous Current MDA North America ~Flat ~(5%) ~6.0% ~4.0% MDA Latin America 0% - 3% 0% - 3% ~7.0% ~7.0% Whirlpool Corporation Confidential SDA Global ~Flat ~Flat ~15.5% ~15.5% 28
Slide 29: 2026 Free Cash Flow Guidance
2026 Free Cash Flow Guidance (Approximate impact in millions) 2025 2026 Comments Previous Current Cash Earnings and Other Operating Items $657 ~$800 ~$600 • Investments in innovation, digital Capital Expenditures $(389) ~$(400) ~$(400) transformation and cost efficiency Working Capital $(158) ~$100 ~$
Slide 30: Capital Allocation Priorities
Capital Allocation Priorities • Invest ~$400M in Capex 1 Fund Organic Growth • ~100 new products launching in 2026 • Debt pay down of more than $900M in 2026 2 Debt Paydown • ~2x long-term net debt leverage target 3 Fund Dividend • Prudent action to suspend common dividend in uncertain Whirlpool Cor
Slide 31: Actions in Place to Ensure Financial Flexibility
Actions in Place to Ensure Financial Flexibility ~$1.1B Capital Raise Long Term Debt ($B) >$900M Debt Reduction Expected in 2026 ~$2.25B Whirlpool Corporation Confidential Asset Based Lending Credit Facility (in process) We remain committed to our deleveraging strategy and driving debt below $5B 31
Slide 32: Closing Summary
Closing Summary ● First quarter results negatively impacted by external volatility and one-time events ● Pricing and cost actions in place to restore MDA North America profitability ○ U.S. footprint and Section 232 tariff update strengthens our competitive advantage as a domestic producer ● SDA Global
Slide 33: Q&A and Closing Remarks
Q&A and Closing Remarks 33 Whirlpool Corporation Confidential
Slide 34: 2026 Guidance Comparison to 2025
2026 Guidance Comparison to 2025 2025 As 2025 Like- 2026 MDA India* Reported for-Like Guidance Net Sales (in billions) $15.5 $0.8 ~$14.7 ~$15.0 Ongoing EBIT (in $729 $41 ~$688 ~$630 millions) Whirlpool Corporation Confidential Ongoing EBIT Margin 4.7% 5.0% ~4.7% ~4.0% *2025 India financial data (unaud
Slide 35: Key Assumptions - Guidance
Key Assumptions - Guidance Income Statement FY2025 FY2026E Raw Material (Inflation) / Deflation nm ~$(100M) Restructuring Costs* $63M ~$50M Interest Expense $341M ~$300M Corporate Center** $198M ~$200M Weighted-Average Diluted Shares Outstanding 56.2M 64.2M*** GAAP Earnings per Diluted Share $5.66 $2.
Slide 36: Interest and Sundry (Income) Expense and Equity Method Investment Income (Loss)
Interest and Sundry (Income) Expense and Equity Method Investment Income (Loss) Q1 (Approximate impact in millions) 2025 2026 Comments • Includes foreign exchange and hedge Net Foreign Exchange $4 $4 (gain)/loss • 2025 & 2026 interest income, interest Interest (Income) Expense/Other (36) (12) rate s
Slide 37: Restructuring Cash Outlays
Restructuring Cash Outlays (Approximate impact in millions) 2025 2026 Comments Other Initiatives $29 $50 Manufacturing and footprint optimization Total $29 $50 Whirlpool Corporation Confidential 37
Slide 38: Whirlpool
Whirlpool Whirlpool KitchenAid JENNAI? MAYIAG AMANA BRASTEMP' Consul inQDertor