Second Quarter 2026 Earnings Conference Call

© 2026 OTIS WORLDWIDE CORPORATION.

Q2 2026

HigHhilights

Service organic1 sales growth accelerated 9%

• Maintenance & repair organic1 sales up 6%

• Modernization organic1 sales up 24%

  • Orders up 9%

  • Backlog up 26% at constant currency1

New Equipment stabilized

• Sales improved sequentially

• Margins stabilized sequentially

• Backlog up 4% at constant currency1

  Strong cash flow +19%

  Disciplined capital deployment

• Adjusted free cash flow1 of $290M

• WeMaintain acquired

• ~$400M shares repurchased… ~$800M YTD

• Dividends increased by 5%

Q2 2026 results

($ millions, except per share amounts)

Sales

3,595

3,859

Q2 2025

Q2 2026

Organic1 FX

Net acquisitions/other

Total net sales

6%

1%

~Flat

7%

Operating profit

GAAP

Adjusted1

547

612

575

587

17.0%

Adjusted margin1

15.2%

Q2 2025

Q2 2026

Adjusted operating profit down $32M at constant currency1, excluding $7M of FX tailwinds

Adjusted operating profit margin1 contracted 180 basis points to 15.2%

Diluted earnings per share

GAAP

Adjusted1

$0.99

$1.12

$1.05

$1.01

Q2 2025

Q2 2026

Adjusted EPS1 drivers

Operational FX

Other

($0.07)

$0.02

$0.01

1 See appendix for additional information regarding these non-GAAP financial measures.

Service Operating Model… next step in our journey

2020 to 2025 2026+

Growth

• Accelerated portfolio growth to 4%

• Drove product innovation with Gen3, Gen360

• Expanded OtisOne and digital products

• Industrialized and ramped up modernization

• Value driven micro pricing initiatives

  AI and digital assisted tools

• Focus on high value Service segments

• Proactive and industrialized approach in repair

  Operational excellence & customer centricity

• Optimized supply chain

• Standardized transactional processes and functional organizations with UpLift

• Consolidated back office

• Implemented China transformation

Service Excellence

Service Operating Model

Service margin improving QoQ… still under pressure

+7 pts.

Aug-25 Dec-25

Mar-26

Jun-26

Investments of $15M as planned

Illustrative example of Service quality index in target operating territories

Step change in Service quality metrics

Retention improvement to follow

Macro economic impact broadly offset by pricing Micro-pricing initiatives in repair ramping up

Headwinds in productivity and cost

What we said in Q1 Q2 progress

• Investments in Service Excellence

• Portfolio mix and retention

  •

  • Cost and price

•

Service 94%

Q2 2026 Service segment results

($ millions) Segment Operating

Volume Pricing

Labor & material costs

Investments and productivity Mix

+

+-

Operating profit up $16M at constant currency1

Q2 2026

Q2 2025

Operating profit margin

(170) bps

23.2%

24.9%

4%

599

578

Y/Y

Operating Profit

Sales

Y/Y

2,580

2,319

11%

Organic1

9%

Q2 2025

Q2 2026

Organic1 sales up 9%

• Maintenance & repair up 6%

• Modernization up 24%

Profit

Q2 2026 New Equipment segment results

Sales

Y/Y

1,276

1,279

0%

Organic1

(1%)

Q2 2025

Q2 2026

Organic1 sales down 1%

• Americas up 10%

• EMEA down 4%

• Asia down 10%

  • Asia Pacific up LSD

  • China down high teens

($ millions)

Productivity Volume

Price & mix

-

Operating profit down $30M at constant currency1

Q2 2026

Q2 2025

Operating profit margin

(220) bps

40

3.1%

5.3%

(41%)

68

Y/Y

Operating Profit

New Equipment 6%

Segment Operating Profit

2026 total and organic1 sales outlook unchanged

1 See appendix for additional information regarding these non-GAAP financial measures.

Areas of continued focus

On track

Update to prior outlook

Repair and modernization volume ramp up

Micro-pricing

Retention improvement from investment in Service excellence

Cost optimization

Repair Modernization

Repair

Service quality improvements

G&A cost reduction

No change

Balancing maintenance micro-pricing and retention ($20M)

Productivity and field cost management ($50M)

2026 financial outlook

2026 adjusted EPS1 outlook drivers

($45M) to ($15M)

at constant currency1

($0.09) to ($0.03)

FX BOY

EUR @ 1.14

CNY @ 6.81

$4.05

2025 adjusted EPS 1 Operational FX Other 2026 adjusted EPS outlook1

~Flattish EPS1

© 2026 OTIS WORLDWIDE CORPORATION. 13

© 2026 OTIS WORLDWIDE CORPORATION. 14

Appendix

Backlog and orders

($ billions, at constant currency1)

Remaining performance obligation

Y/Y

Modernization orders

Total Otis 9%

Modernization

18.8 19.5 19.7

5%

26%

Maintenance & repair

New Equipment

1%

4%

Q2 2025 Q1 2026 Q2 2026

New Equipment orders

Appendix

Q2 2026 adjusted operating profit1 drivers

Actual currency ($28M) +$21M ($18M) ($25M)

($32M) at constant currency1

$7M

-

Productivity

Volume Price & Mix

+

-+

-

Volume Pricing

Labor and material costs Investments and productivity

Mix

$612M

Q2 2025 adjusted operating profit1

New Equipment Service Corporate/Other FX Q2 2026 adjusted

operating profit1

Adjusted operating profit margin1 of 15.2%

Appendix

H1 2026 results

($ millions, except per share amounts)

Sales

6,945

7,425

H1 2025

H1 2026

Organic1 FX

Net acquisitions/other

Total net sales

4%

3%

~Flat

7%

Adjusted operating profit down ($70M) at constant currency1, excluding $35M of FX tailwinds

Adjusted operating profit margin1 contracted 160 basis points to 15.3%

H1 2026

H1 2025

15.3%

16.9%

Adjusted margin1

1,137

1,172

Adjusted1

$1,114

$958

GAAP

Operating profit

Diluted earnings per share

GAAP

$1.60

$1.99

Adjusted1

$1.97

$1.90

H1 2025

H1 2026

Adjusted EPS1 drivers

Operational FX

Interest

Shares

($0.14)

$0.07 ($0.05)

$0.05

1 See appendix for additional information regarding these non-GAAP financial measures.

Appendix

H1 2026 Service segment results

Sales

Y/Y

11%

4,997

4,506

Organic1

7%

H1 2025

H1 2026

Organic1 sales up 7%

• Maintenance & repair up 5%

• Modernization up 16%

($ millions)

Service 94%

Volume Pricing

Labor and material costs

Investments and productivity Mix

+-

-

+

Operating profit up $6M at constant currency1

H1 2026

H1 2025

Operating profit margin

(160) bps

23.1%

24.7%

1,155

1,115

Y/Y

4%

Operating Profit

Segment Operating Profit

Appendix

H1 2026 New Equipment segment results

Sales

Y/Y

2,439

2,428

0%

Organic1

(3%)

H1 2025

H1 2026

Organic1 sales down 3%

• Americas up 5%

• EMEA down 2%

• Asia down 11%

  • Asia Pacific down LSD

  • China down >20%

($ millions)

New Equipment 6%

Productivity Volume

Price & mix

-

+-

Operating profit down ($57M) at constant currency1

H1 2026

H1 2025

Operating profit margin

(230) bps

78

3.2%

5.5%

(42%)

134

Y/Y

Operating Profit

Segment Operating Profit

Appendix

H1 2026 adjusted operating profit1 drivers

Actual currency

($56M)

$40

($19M)

($35M)

($70M) at constant currency1

$6M

($19M)

-

Price & mix

-

-

-

Labor & material costs Investments and productivity Mix

H1 2025 adjusted1 operating profit

New Equipment Service Corporate/Other FX H1 2026 adjusted 1

operating profit

Adjusted operating profit margin1 of 15.3%

1 See additional information regarding these non-GAAP financial measures.

© 2026 OTIS WORLDWIDE CORPORATION.