Financial Release

MORRIS PLAINS, N.J., Sept. 6, 2018 /PRNewswire/ -- Garrett Motion Inc., the planned Honeywell spin-off of its Transportation Systems business, will host its investor conference in New York City today, led by President and Chief Executive Officer Olivier Rabiller.

As part of the conference, Rabiller and other members of the Garrett leadership team will lead presentations highlighting Garrett's market and technology leadership, world-class operations, and financial strength. Garrett's leaders will also provide interactive demonstrations of the company's cutting-edge technologies and solutions for an industry that is rapidly transforming its user experience with advanced automotive powertrains, including the development of electrified and connected vehicles.

"I am excited to update the investment community on the strong position Garrett will have in the automotive industry following our planned spin-off from Honeywell at the end of this quarter," Rabiller said. "We have positioned our brand as 'Garrett - Advancing Motion' because we have a broad portfolio of products that incorporate breakthrough technologies and best-in-class global manufacturing capabilities to grow our global market leadership amid accelerating industry tailwinds, including the emergence of electrified powertrains. We will have an attractive financial profile, and long track record of operational excellence. As a stand-alone company. Garrett will continue to be a driving force within the industry, as evidenced by our introduction of leading software solutions that monitor vehicle performance and health and offer state-of-the-art cybersecurity."

Garrett is a global leader in turbocharger technologies with a 60-year history of innovation and best-in-class engineering capabilities for a broad range of engine types across global automobile, truck and other vehicle markets. Garrett has approximately 1,400 issued and pending patents, approximately 7,500 employees, and a broad customer base that includes nearly all the world's top passenger and commercial vehicle manufacturers. Garrett's 2017 sales were approximately $3.1 billion across 160 countries.

Presentation materials and webcast information for the Garrett Investor Conference, including a replay of the webcast following the event, will be available at www.honeywell.com/investor.

It is anticipated that when-issued trading on the New York Stock Exchange in Garrett Motion Inc. common stock will begin on or about Monday, September 17. On Monday, October 1 Garrett common stock will begin regular-way trading on the NYSE under the symbol, "GTX."

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

This release 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 release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. 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.

For additional information with respect to Garrett and the proposed spin-off, please refer to the Form 10 Registration Statement, as it may be further amended, on file with the Securities and Exchange Commission.

The spin-off is subject to customary conditions.  This communication shall not constitute an offer of any securities for sale, nor shall there be any offer, sale or distribution of securities in any jurisdiction in which such offer, sale or distribution would be unlawful prior to appropriate registration or qualification under the securities laws of such jurisdiction.

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SOURCE Honeywell