Trane Technologies (TT) 8-K Ingersoll Rand Reports Fourth-Quarter and Annual 2019 Results

2020 Guidance: New Trane Technologies* 2020 Guidance Full Year YOY Change “Apples to Apples” Climate Reported / Organic** Revenue ~$13.5B to ~$13.7B ~3.0% to ~5.0% growth “Apples to Apples” Climate Segment Adj. OI Margin 15.3% to 15.7% +30 to +70 bps Unallocated Corporate Costs ~$260M -- Stranded Costs see slide 20 -- Trane Technologies Depreciation and Amortization ~$300M -- Interest Expense (~$600M debt retirement May 2020) ~$240M flat Free Cash Flow >= 100% Adj. Net Earnings -- CapEx ~1% to ~2% of revenues -- Share Repurchases (for modeling purposes) ~$500M -- *Trane Technologies name subject to shareholder approval. 17 ** Assumes foreign exchange has no meaningful impact on the full-year.