HONEYWELL INTERNATIONAL INC

About Honeywell Technologies

In the third quarter of 2026, Honeywell International Inc. (we, us, our, Honeywell Technologies, or the Company) completed the previously-announced separation (the Aerospace Spin-Off) of Honeywell Aerospace Inc. (Honeywell Aerospace) into an independent publicly-traded company. Honeywell Technologies separated Honeywell Aerospace from the Company by distributing all of the issued and outstanding shares of common stock of Honeywell Aerospace to the holders of common stock of Honeywell Technologies.

The separation of Honeywell Aerospace from Honeywell Technologies is intended, among other things, to better position both companies to focus on and pursue opportunities for long-term growth and profitability unique to each company's sector. Following the Aerospace Spin-Off, Honeywell International Inc. now operates as Honeywell Technologies. Honeywell Technologies continues to trade on the Nasdaq exchange under the ticker symbol “HON”.

Prior to the Aerospace Spin-Off, we globally managed our business operations through four reportable business segments: Aerospace Technologies, Building Automation, Process Automation and Technology, and Industrial Automation. Following the Aerospace Spin-Off, the historical financial results of Honeywell Aerospace are reflected in Honeywell Technologies’ consolidated financial statements as discontinued operations. In connection with and following completion of the Aerospace Spin-Off, we now manage our businesses through three reportable business segments: Building Automation, Process Automation and

Technology, and Industrial Automation. See Note 18 Segment Financial Data to Notes to Consolidated Financial Statements for further information.

Our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and any amendments to those reports, are available free of charge on our Investor Relations website (investor.honeywell.com) under the heading Results & Filings (see SEC Filings) immediately after they are filed with, or furnished to, the SEC. Honeywell Technologies uses our Investor Relations website, along with press releases on our primary Honeywell Technologies website (honeywell.com) under the heading Newsroom, 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 and Honeywell Technologies News feed, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media. Information contained on or accessible through, including any reports available on, our website is not a part of, and is not incorporated by reference into, this Quarterly Report on Form 10-Q or any other report or document we file with the SEC. Any reference to our website in this Form 10-Q is intended to be an inactive textual reference only.

Business Update

Following the completion of the Aerospace Spin-Off and our divestitures, Honeywell Technologies completed its portfolio transformation. We now operate as a global, pure-play automation company, providing mission-critical solutions across the buildings, industrial, and process sectors with a broad portfolio of services, solutions and products underpinned by our Honeywell Technologies Accelerator operating system and Honeywell Technologies Forge intelligence layer. As a trusted partner to our customers, we help organizations solve the world’s toughest, most complex challenges, while providing products, services, and software that enhance the quality of life for people and communities around the world. Building on our decades-long technology leadership positions, deep domain experience, and substantial installed base, Honeywell Technologies connects assets, people, and processes to power the transition from automation to autonomy. Our comprehensive portfolio of leading, mission-critical products and solutions is organized into the following segments: Building Automation, Process Automation and Technology, and Industrial Automation.

Our iconic heritage traces its origins to the late nineteenth century with the development of early temperature control technologies and the formation of the original Honeywell Heating Specialty Company in 1906. Honeywell Technologies introduced the first electronic control system in 1974, marking the beginning of modern distributed control systems, which enabled large complex plants to be controlled by a network of distributed controllers. At around the same time, in the 1970s, the debut of Honeywell Technologies’ Alpha 1000 and Delta systems brought a novel convergence of building management solutions that integrated fire, security, and energy systems into a unified platform. Through organic innovations as well as numerous strategic acquisitions, Honeywell Technologies has taken a software-first approach to increasing customer productivity and operational efficiency with forward-looking technology. Our rich history of innovation and technology leadership has cemented our long-standing reputation for driving significant productivity and enabling better outcomes for customers, ultimately making Honeywell Technologies instrumental to the future of critical industries.

Through our three operating segments, we provide mission-critical solutions in industries where reliability is paramount and sustainable competitive advantages can be established. Honeywell Technologies focuses on critical control points that often represent only a single-digit percentage of a project’s spend but deliver outsized value to our customers, creating aftermarket opportunities that enable us to add substantial value over the life of their assets. Our decades of deep domain expertise combined

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with our cutting-edge technologies enable us to offer value-based solutions that span a complementary set of business models, including products, projects, services, and software.

Our strategy is firmly rooted in the application of core competencies and our mature Accelerator operating system to meet industry demands for high return on investment (ROI) outcomes that build on integrated, enterprise-level solutions for customers. Honeywell Technologies has a substantial installed base of differentiated and critical equipment across Building Automation, Process Automation and Technology, and Industrial Automation.

We collaborate closely with top-tier partners that strengthen our go-to-market strategies by expanding our reach within existing verticals and enabling us to serve new customer segments in industries undergoing meaningful transformation, such as data centers, liquefied natural gas (LNG), semiconductors, and life sciences. These relationships provide us with valuable insights and broad end-customer access, which in turn solidifies our reputation as a leader across our sectors.

Enablers And Growth Strategies

Apply proprietary enablers to deliver high-value solutions

The key enablers of our business model are our proprietary Honeywell Technologies Accelerator operating system and our Honeywell Technologies Forge intelligence layer. Accelerator is our comprehensive management and operational framework that leverages decades of development to drive growth and competitive advantages through increased efficiency, manufacturing productivity, value-based pricing, customer problem solving, and innovation. This system is designed to enhance enterprise collaboration and accelerate decision-making, while optimizing our workforce. Our Accelerator operating system has matured over decades, using Lean, Six Sigma, and digital tools to provide real-time visibility into supply chain, production, and operational performance.

Our Honeywell Technologies Forge intelligence layer is a hardware-agnostic and open-architecture platform, which allows us to combine deep domain expertise and vast quantities of data in order to provide critical insights and outcomes for customers. This platform helps improve client processes, enhance productivity, support sustainability initiatives, and empower workers across all our business segments. By integrating Honeywell Technologies Forge into our portfolio and combining it with our leading-edge artificial intelligence (AI) capabilities, we enable customers to unlock greater value from their assets and operations and deliver enterprise-level outcomes.

To accelerate growth, we monetize our installed base with software, services and aftermarket offerings to generate incremental revenue streams that achieve consistent and reliable growth and recurring revenue streams. While there has been a significant push to digitize the industrial space, we believe significant opportunities remain for Honeywell Technologies to transform how organizations leverage technologies to automate complex operations, improve performance, and proactively respond to challenges faced by our customers.

Drive innovation through focus on research and development (R&D) and new product introductions

Our R&D investments are pivotal in driving strong organic growth from new product introductions that not only sustain our core business but also generate incremental revenue streams. Our commitment to drive a continuous cycle of product innovation leads to value-added product refreshments built on deep, trusted relationships. Our high level of customer focus provides us with prospects for co-innovation that benefit not only our existing customer base but also new customers by solving their most pressing challenges.

We focus our R&D investments on establishing a refreshed pipeline of solutions that create significant incremental outcomes to extend asset life, improve operational efficiency, and enhance customer decision-making across our segments. Across our portfolio, we continue to improve our strategic focus by developing new solutions that aim to transform customer operations through product upgrades, data analytics, and AI-based offerings. Our holistic, disciplined approach focuses on every element from accelerating ideation through to the commercialization phase. Over the last several years, we transformed our innovation process, working to ensure increased growth and ROI across our portfolio through strategic portfolio planning and building a culture of customer centricity.

As we consider opportunities to invest in technology, we target investments that we can use across our entire portfolio, further strengthening our single platform cross-selling model. Across our businesses, we developed and commercialized multiple vendor-agnostic innovations that increase customer productivity and operational efficiency, ensuring that we deliver quality solutions faster and at a reduced cost. As we continue to execute our own digital transformation, we are committed to embedding innovation into every aspect of our operations. Our mission is as much about setting new industry standards and anticipating future needs as it is about delivering today’s solutions.

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Pursue disciplined acquisition and portfolio-optimization strategy

We complement our organic growth strategy with a disciplined mergers and acquisitions (M&A) strategy, regularly identifying and evaluating a robust pipeline of acquisition opportunities across all businesses as part of our efforts to broaden our portfolio, access differentiated technologies and innovations and expand our exposure to high-growth verticals and regions. Our recent acquisitions focused on high-growth verticals and strategically expanded our existing portfolio, enabling us to create end-to-end, integrated offerings in attractive segments. Specifically, we believe that the acquisitions of Carrier Access Solutions, Air Products' LNG business, Compressor Controls Corporation (CCC), Sundyne, and Johnson Matthey’s Catalyst Technologies business will notably increase annualized revenue across our Building Automation and Process Automation and Technology portfolios. We apply a rigorous evaluation process designed to align each opportunity with our strategic objectives, financial criteria, and operational requirements, with the goal of ultimately supporting value creation.

Expand in targeted high-growth verticals

Our business model is designed to sustain growth that is less dependent on business cycles. We refer to this as “decoupled” growth: revenue that is not tied to the capital equipment lifecycle, unlike most traditional aftermarket sales. Decoupled growth creates new industry segments, such as connected buildings, and new offerings, such as cybersecurity, which expand the total addressable market and provide platforms for integrated solutions that combine multiple offerings in our broad portfolio.

In addition to growing in our core end-markets, we are concentrating on additional expansion in four “high-growth vertical” areas: data centers, semiconductors, life sciences, and LNG, where we bring our portfolio together around customer outcomes that matter most. In each vertical, we aim to build scale through vertical-specific offerings, a tailored commercial approach, and targeted acquisitions and partnerships. By way of example, in data centers, we help operators maximize uptime and energy efficiency by integrating building management, power and cooling controls, fire safety, and security. In our semiconductor vertical we help fabrication facilities protect yield and operate safely through environmental controls, gas detection, and process automation. And in LNG, we help producers improve throughput, reliability, and safety across liquefaction and export operations through process control, safety systems, and operations software.

For example, for pharmaceutical and biotechnology manufacturers, one of our core focuses is on improving manufacturing quality: small deviations in temperature, humidity, pressure, or contamination control can compromise a batch and create regulatory exposure. We address this by integrating our process automation software and controls, building management systems, and fire and security solutions into a seamless solution for our customers. Building controls hold the precise environmental conditions production requires; process automation provides real-time visibility into production data across the manufacturing lifecycle; and fire and security systems protect people, facilities, and product while supporting compliance with stringent regulations. Together, these capabilities help customers improve product quality, simplify regulatory compliance, and lower operating costs. Because our capabilities apply across verticals, lessons from one domain carry into others, which we believe deepens our relationships with existing customers.

Capitalize on our extensive global footprint as an automation leader

As a pure-play automation company, we have global scale with over half of our total annual sales from outside of the United States, and approximately one-third of total annual sales from high-growth regions. As reshoring investments remain strong, we believe this global mix positions us well to meet the local needs of customers for longevity of human life, energy demand / security, and increased energy consumption. Our global scale and reach are bolstered by the strength of our trusted brand and the depth of our channel partnerships. Our local-for-local strategy applies across all our regions and our global engineering services model, which enables us to both maintain customer focus and deliver on precise requirements and specifications that differ from country to country with speed and agility.

Honeywell Technologies is a global, pure-play automation business that brings together proprietary operating disciplines, deep domain expertise, and AI-enabled Forge solutions to boost customer productivity, drive growth across our installed base and high-growth markets and help address the world's most mission-critical challenges. Underpinned by our Accelerator operating system,

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our growth strategies work together to translate our installed base and domain expertise into actionable paths to develop and grow consistent, recurring revenue in new and existing segments.

Major Businesses

We manage our businesses through three reportable business segments: Building Automation, Process Automation and

Technology, and Industrial Automation. See Note 18 Segment Financial Data to Notes to Consolidated Financial Statements for further information.

Building Automation

Building Automation is a leading global provider of unified building automation solutions across products, hardware, software, and analytics, which help our customers convert buildings into safe, sustainable, and integrated assets. Building Automation offerings include fire detection, building controls and optimization software, energy management systems, access control, and video management software, complemented by installation, maintenance, and upgrades. Our equipment-agnostic approach creates a large aftermarket opportunity. The reportable business segment is comprised of the Products and Solutions business models. The Products business is a leading provider of multi-domain controls and software offerings, primarily through an industry-leading, highly capable, channel partner network. The Solutions business is a leading provider of integrated systems and differentiated automation technologies.

Within Building Automation, our Honeywell Technologies Forge solutions enable channel partners and end-users to digitally manage buildings, through asset onboarding, self-service capabilities, and applications. Digitalization, coupled with cloud transformation, creates the capability to connect assets, visualize data that provides actionable insights through intuitive dashboards, manage systems remotely, and leverage AI to facilitate installation, commissioning, and life-time service.

Process Automation and Technology

Process Automation and Technology offers a comprehensive portfolio of end-to-end solutions that drive automation throughout the industrial lifecycle, develop and innovate advanced process technology solutions, and help accelerate customers' digital transformations. The business segment delivers to multiple sectors, including energy, mining and minerals, industrials, power generation, and life sciences. The reportable business segment is comprised of the Projects and Aftermarket business models. The Projects business offers automation solutions for new and existing industrial plants, solutions for critical turbomachinery control applications, licensing, engineering of new and existing energy facilities, and energy solutions including separation and purification, gas, renewable fuels, blue H2 / blue NH3, green H2, carbon capture, plastics circularity, and energy storage. The Aftermarket business offers solutions that improve safety, reliability, sustainability, and operations excellence and delivers licensed process technology, equipment, engineering catalyst, adsorbents, and services to enable the energy transition.

Operating our Process Automation and Technology business as a single segment enables us to unlock significant customer efficiency benefits, since we believe we are singularly positioned to deliver end-to-end solutions combining our molecule expertise with our controls and software. For example, through the acquisition of Air Products' LNG business in 2024, we now provide

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customers with a full-service set of solutions consisting of natural gas pre-treatment, liquefaction, and enterprise-level digital automation technologies unified under the Honeywell Technologies Forge and Experion platforms.

Industrial Automation

Industrial Automation is a global at-scale provider of sensing and measurement solutions serving mission-critical applications across diversified verticals, including energy, power and utilities, aerospace and defense, medical devices, and semiconductors. Across these verticals, customers desire similar outcomes, such as operational efficiency, asset effectiveness, people performance, and safety. The reportable business segment is comprised of the Products and Solutions business models. The Products business offerings include fiscal custody transfer solutions, fixed and portable gas detection, safety solutions for semiconductor manufacturing, terminal operations, sensors, switches and controls, burner management systems, and fuel and air delivery. Industrial Automation offers a comprehensive suite of solutions through aftermarket services, as well as through expanding its high-value digital services and connected solutions, anchored in Honeywell Technologies Forge.

Our extensive installed base of sensing and measurement offerings, combined with vertical domain expertise and deep integration with Honeywell Technologies' Forge platform, delivers distinctive, value-accretive outcomes that address evolving customer needs. The combination of data, cloud and smarter edge solutions allows Industrial Automation to deliver enterprise level outcomes rather than just point solutions at each asset or site.

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