Carrier Announces Agreement to Sell NORESCO to OPTERRA Energy Services

About this update from Carrier Global Corporation

PALM BEACH GARDENS, Fla., July 27, 2026 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced that it has signed a definitive agreement to sell its NORESCO business to OPTERRA Energy Services, a subsidiary of LS Power. The transaction is expected to close shortly. "The sale of NORESCO represents Carrier's continued commitment to portfolio simplification, allowing us to remain laser-focused on growth and innovation within our core businesses," said Carrier Chairman & CEO David Gitlin. "I want to thank the NORESCO team for their dedication and contributions to Carrier. We are confident that with OPTERRA, NORESCO is exceptionally well-positioned to continue delivering energy-efficiency solutions and long-term sustainable value to its customers." Jefferies LLC is serving as financial advisor to Carrier. Akerman LLP is serving as external legal counsel. About CarrierCarrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit carrier.com or follow Carrier on social media at @Carrier. Carrier. For the World We Share. Cautionary StatementThis communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide management's current expectations or plans for Carrier's future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance,"...

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