News Release

CHARLOTTE, N.C., May 11, 2023 /PRNewswire/ -- Honeywell (NASDAQ: HON) will host its investor conference at the Nasdaq MarketSite in New York City today. The leadership team will provide an update on Honeywell's CEO transition, ongoing transformational efforts, favorable end market set-up, sustainability and software initiatives, and capital deployment priorities as the company enters a new phase of growth acceleration.

The company will speak with investors today about the following:

• Long track record of shareholder value creation
• Next stage of Honeywell's transformation
• Incoming CEO priorities including accelerating organic growth, enhancing Honeywell's operating system, and further optimizing the portfolio
• Mergers and acquisitions process overview and example target company profiles
• Honeywell's ongoing commitment to sustainability and ESG excellence
• An update to the long-term financial framework outlined in March 2022

"In the 14 months since our last Investor Day, the macroeconomic backdrop has continued to evolve and the operating environment has remained challenging. However, we successfully delivered on our long-term financial commitments in 2022 while continuing to invest for the future of Honeywell," said Darius Adamczyk, Chairman and Chief Executive Officer of Honeywell. "Over the last seven years we have transformed Honeywell into a leaner, more innovative organization, and demonstrated our operational prowess by seamlessly navigating a myriad of economic headwinds. We have streamlined our manufacturing footprint and cost base and digitalized many core processes throughout our value chain. We also revitalized our operating system and innovation engine, making the business simpler and more agile. Today we will talk about how these transformational efforts have positioned Honeywell to confidently enter the next phase of its journey. Honeywell's future is bright, and as I transition to the Executive Chairman role next month, I am extremely confident that Honeywell will thrive under Vimal's leadership."

Vimal Kapur, Chief Operating Officer and incoming Chief Executive Officer for Honeywell, commented, "I am both excited and humbled to lead Honeywell, a high-performing company with a leading portfolio of technologies that is solving the world's toughest challenges. During the 34 years that I have spent in Honeywell, I have seen how our differentiated technologies and operational expertise have allowed us to win in the marketplace. As I take on the position of CEO, my focus will be leveraging our strong foundation as a platform to accelerate growth through both organic and inorganic means. Today I will provide more details on my priorities as the incoming CEO and provide an update to our long-term financial framework that I am committed to uphold. Under Darius's leadership we consistently delivered for our shareholders, and you can rest assured that we will continue to create exceptional shareholder value under mine."

The investor conference will begin at 1:00 p.m. EDT today and include a combination of presentations, panel discussions, and a question-and-answer session, concluding at 4:00 p.m. EDT. A real-time audio webcast of the conference can be accessed at http://www.honeywell.com/investor, where related materials will be posted after the conference and a replay of the webcast will be available for 30 days following the conference.

Honeywell (www.honeywell.com) delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

Honeywell uses our Investor Relations website, www.honeywell.com/investor, as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media.

We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes or anticipates will or may occur in the future. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K and other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.

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SOURCE Honeywell