Honeywell International : Leadership Webcast Series – Featuring Darius Adamczyk, Greg Lewis, and Anne Madden

LEADERSHIP WEBCAST SERIES

NOVEMBER 23, 2021

DARIUS ADAMCZYK

CHAIRMAN AND CHIEF EXECUTIVE OFFICER

GREG LEWIS

SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER

ANNE MADDEN

SENIOR VICE PRESIDENT, BUSINESS DEVELOPMENT AND GENERAL COUNSEL

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Forward Looking Statements

This presentation contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934.

All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this presentation are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19

pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be

modified or abandoned at any time. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

Non-GAAP Financial Measures

This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation and acquisitions and divestitures for the first 12 months following the transaction date; free cash flow, which we define as cash flow from operations less capital expenditures plus cash receipts from Garrett, if and as noted in the release; adjusted free cash flow, which we define as free cash flow adjusted to

exclude the impact of separation costs related to the spin-offs of reside and Garrett, if and as noted in the release; adjusted free cash flow margin, which we define as

adjusted free cash flow divided by net sales; and adjusted earnings per share, which we adjust to exclude pension mark-to-market, changes in fair value for Garrett equity securities, an expense related to UOP matters, gain on the sale of the retail footwear business, the non-cash charges associated with the reduction in value of reimbursement receivables due from Garrett, net of proceeds from settlement of related hedging transactions, the favorable resolution of a foreign tax matter related to the spin-off transactions, and a non-cash charge associated with a further reduction in value of reimbursement receivables following Garrett's emergence from bankruptcy on April 30, 2021, if and as noted in the release. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain metrics presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is

determined individually and on a case-by-case basis. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly

comparable GAAP measures.

4Q21 Leadership Webcast - November 23, 2021

Honeywell Confidential - ©2021 by Honeywell International Inc. All rights reserved.

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KEY MESSAGES

Active Capital Deployment		Innovation Enabling
to Shape Honeywell		Continued Growth
• Continual commitment to		• Demonstrated MSD growth
refreshing the portfolio on an		combined with 70 bps of margin
ongoing basis and aligning to		expansion (2017 - 2021
growth / ESG market segments		average, excluding 2020)
• Annual capital deployment		• Growth in core and via
consistently beyond FCF		breakthrough initiatives enable
generation		acceleration
		• Attractive markets underpin
		growth potential

ESG Focus

• Focusing ~50% of our new product R&D activity towards solutions that improve environmental and social outcomes
• Accelerated growth in ESG focused businesses
• A leader in all three elements of E, S, and G

Honeywell Uniquely Positioned to Differentiate in Ongoing Recovery

4Q21 Leadership Webcast - November 23, 2021

Honeywell Confidential - ©2021 by Honeywell International Inc. All rights reserved.

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TRACK RECORD OF OUTPERFORMANCE

2017 - 2021E Average Financial Performance1

Highlights

Organic Sales Growth

5% 5%	5%
			4% 4%	4%
					3%
Peer	Peer	HON	Peer	Peer	Peer	Peer
1	2		3	4	5	6

Margin Expansion

(bps, rounded)

70	70
		0
HON	Peer	Peer	Peer	Peer	Peer	Peer
Spin	4	2	1	3	6	5
Adjusted
			(50) (50) (60)
						(80)

• Delivered 5% annual organic sales growth on average over the last 5 years1, outperforming our peer average
• Expanded margin annually by 70 basis points on average over the same period1, outperforming our peers
• Methodically repositioned portfolio to optimize for high growth and high margin businesses
• Consistently invested in differentiated technologies while maintaining industry leading margin expansion

Peer group consists of EMR, FTV, GE, ITW, MMM, and ROK

1Excludes 2020 financials. Uses midpoint of 2021 organic sales guidance and CapitalIQ consensus margin expansion for all companies except EMR and ROK, which are fiscal year 2021 actuals.

Portfolio Transformation Driving Outperformance vs. Peers

4Q21 Leadership Webcast - November 23, 2021

Honeywell Confidential - ©2021 by Honeywell International Inc. All rights reserved.

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HONEYWELL VALUE CREATION FRAMEWORK

1. Deep Experts

2. Innovators of

3. Leaders in High

4. Rigorous

Scalable

of Our Domains

Growth Regions

Operators

Technologies

Expansive installed base and

Leveraging installed base;

Continuous improvement in

scale drive connected

building high-margin,

Long-term track record of

operating efficiency; decisive

software, recurring, and

innovative, and scalable

growth; local-for-local presence

action in all environments

services revenue streams

businesses

5. Disciplined

6. Effective

7. Responsible

Financial

Corporate

Capital Managers

Stewards

Citizens

Consistent performance on

Disciplined capital deployment;

Committed to upholding our

organic growth, margin

environmental, social, and

active portfolio management

expansion, cash generation

governance principles

Underpinned by Our Operating System - Honeywell Accelerator

Today's Focus on Innovation, Portfolio, and Sustainability

4Q21 Leadership Webcast - November 23, 2021

Honeywell Confidential - ©2021 by Honeywell International Inc. All rights reserved.

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