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JUNE 15, 2025 HONEYWELL AEROSPACE PARIS AIR SHOW INVESTOR RECEPTION
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2 FORWARD LOOKING STATEMENTS We describe many of the trends and other factors that drive our business and future results in this presentation. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including statements related to the proposed spin-off of the Company's Advanced Materials business into Solstice Advanced Materials, a standalone, publicly traded company, and the proposed separation of Automation and Aerospace Technologies. Forward-looking statements are those that address activities, events, or developments that we or our management intend, expect, project, believe, or anticipate 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, many of which are difficult to predict and outside of our control, including Honeywell's current expectations, estimates, and projections regarding, among other things, the proposed spin-off of the Company's Advanced Materials business into Solstice Advanced Materials, a standalone, publicly traded company, and the proposed separation of Automation and Aerospace Technologies. 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, including the consummation of the spin-off of the Advanced Materials business into Solstice Advanced Materials and the proposed separation of Automation and Aerospace Technologies, and the anticipated benefits of each. 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, including ongoing macroeconomic and geopolitical risks, such as the impacts of tariffs and other trade barriers and restrictions, lower GDP growth or recession in the U.S. or globally, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, which 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 presentation can or will be achieved. These forward-looking statements should be considered in light of the information included in this presentation, 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. NON-GAAP FINANCIAL MEASURES This presentation contains a financial measure presented on a non-GAAP basis. Honeywell’s non-GAAP financial measure used in this presentation is Organic sales percent change. Management believes that, when considered together with reported amounts, this measure is useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. This measure should be considered in addition to, and not as a replacement for, the most comparable GAAP measure. Refer to the Appendix attached to this presentation for a reconciliation of the non-GAAP financial measure to the most directly comparable GAAP measure.
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HONEYWELL AEROSPACE PARIS AIR SHOW INVESTOR RECEPTION VIMAL KAPUR CHAIRMAN AND CEO
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Building Momentum Across All Key Priorities in 2025 4 • Strong operational start to the year; Aero leading with organic growth of 9% in 1Q • Portfolio optimization continues with >$4B capital committed to two bolt-ons, PPE sale completed in 1H25 • Spin-offs proceeding apace while organization maintains focus on delivering for customers and shareholders HONEYWELL UPDATE
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HONEYWELL AEROSPACE PARIS AIR SHOW INVESTOR RECEPTION JIM CURRIER PRESIDENT AND CEO, AEROSPACE TECHNOLOGIES
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HONEYWELL AEROSPACE POWERING THE FUTURE OF AVIATION CREATING A LEADING INDEPENDENT AEROSPACE & DEFENSE COMPANY Premier systems provider for all forms of aircraft Multi-year A&D upcycle and decoupled revenue opportunities Track record of innovation with platform agnostic technologies Mature operating system promoting organic growth and margin expansion Large diversified installed base and recurring aftermarket sales Solving complex challenges, driving path to greater electrification and autonomy 6
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1914: Introduced 1st Autopilot From HON legacy company Sperry Gyroscope 1966: Improved Precision Navigation Safety Produced the first ring laser gyro for the US Navy 1990s: Created 1st Integrated Cockpit Innovative design and automation, improved safety, ease of flight; ~10k integrated cockpits today 2017: Launched Global Inflight Connectivity JetWave provides seamless and reliable service anywhere in the world 2024: Strategic M&A to Strengthen Portfolio Enhanced capabilities and footprint with acquisitions of CAES and Civitanavi 1950s: Developed 1st Auxiliary Power Unit (APU) With the launch of the GTCP85 1972: Revolutionized Business Jet Engines Launched Garrett TFE731; ~100M hours of service 1996: Set New Safety Standards Launched critical safety tool, Enhanced Ground Proximity Warning System 2006: Breakthrough Power and Cooling Technology Power & Thermal Management system’s first flight on the F-35; >1M flight hours to date 2018: Pioneered Electrification and Automation Began developing key technologies for eVTOL aircraft, pioneering the future of urban air mobility 2025: Innovating To Improve Runway Safety Introducing Surf-A runway surface alert system, providing “3rd set of eyes” for pilots 1969: Supported the Space Race Provided critical devices for Apollo 11 1999: HTF7000 Set New Industry Standard Increased reliability of business jet engines; ~2M flight hours to date 7 HONEYWELL AEROSPACE WHERE HERITAGE FUELS AVIATION
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INDUSTRY’S LARGEST , MISSION CRITICAL SYSTEM SUPPLIER 8 • $15.5B sales • 26% segment margin • 4% company-funded and 7% customer-funded R&D % of sales 2 DIVERSE SALES MIX 1 SCALED GLOBAL FOOTPRINT • 30K+ employees • 10K+ engineers and technologists • 80+ engineering, manufacturing, and repair and overhaul facilities FINANCIALS 1 OPERATIONS ORGANIZATION 48 Americas 20 Europe, Middle East, and Africa 13 Asia Pacific CULTURE OF EXECUTION Honeywell Accelerator Operating System Defense & Space, 40% Commercial Aftermarket, 46% Commercial Original Equipment, 14% 1. All sales, segment margin and R&D figures represent 2024 actual results. 2. Includes deferred customer-funded nonrecurring engineering and development activities and expenditures on customer programs with a significant engineering performance obligation. • 10K+ customers • 500+ current platforms • 10K+ active patents and applications # Facilities
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Three Strong Franchises Across Air Transport, Business Jet, and Defense & Space Software, avionics, and satellite communication to improve flight operation, navigation, safety, and efficiency • Integrated cockpits, radars • Flight management systems • Precision navigation • Electromagnetic defensive solutions • Cabin, cockpit satellite communication Electronic Solutions 9 COMPLEMENTARY PORTFOLIO OF MARQUEE A&D FRANCHISES More electric, more efficient mission-critical thermal and motion control systems • Cabin pressure, air, thermal management • Engine fuel controls • Lighting • Wheels and brakes Control Systems Engines & Power Systems Reliable, efficient power for aircraft propulsion and electrical needs • Business jet engines • Military engines • Auxiliary power units • Electric power ~70% of aircraft use HON collision avoidance products ~75% of aircraft use cabin pressurized by HON Technology ~200K engines and APUs delivered since 1959 ~40% 1 ~30% 1 ~30% 1 1. Percentage of 2024 sales
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Top 20 Overall Platforms2 DIVERSE MIX ACROSS PLATFORMS AND VERTICALS Ubiquity of Critical HON Systems Reduces Volatility Through Cycle PLATFORMS BALANCED ACROSS AIR TRANSPORT, BUSINESS JET, AND DEFENSE & SPACE BROAD EXPOSURE, LEVERAGING TECHNOLOGY ACROSS PLATFORMS UAVs & Urban Air Mobility Naval & Commercial Marine Space Helicopters General Aviation Business Jet Defense Air Transport 10 ACTIVE HIGH-VALUE CONTENT IN 500+ KEY PLATFORMS NO PLATFORM MAKES UP MORE THAN MSD% OF SALES 1. Excluding the impact of Bombardier Agreement announced on December 2, 2024 2. Represents top platforms as a percentage of 2025 sales per Company estimate Air Transport Business Jet Defense & Space Commercial OE 2024 Sales Commercial AM 2024 Sales Air Transport Business Jet 1
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11 Honeywell Aerospace Content on ~90% of the Global Aircraft Fleet DEFENSE & SPACE BUSINESS JET COMMERCIAL AIR TRANSPORT INTEGRATED FLIGHT DECKS AUXILIARY POWER UNITS CONNECTED CABIN MANAGEMENT WHEELS AND BRAKING SYSTEMS LED AIRCRAFT LIGHTS SATELLITE COMMUNICATIONS CABIN PRESSURE AND COOLING WEATHER RADARS PRECISION NAVIGATION; SAFETY ALERTING SYSTEMS FLIGHT MANAGEMENT SYSTEM FLIGHT CONTROLS ENGINE CONTROLS WHEELS AND BRAKING SYSTEMSLIGHTINGNAVIGATION & CONNECTIVITY RADAR ALTIMETER THERMAL & ENVIRONMENTAL CONTROL SYSTEMS FLIGHT MANAGEMENT SYSTEM FLIGHT CONTROLS PROPULSION ENGINE AND CONTROLS INTEGRATED FLIGHT DECKS AUXILIARY POWER UNITS PRECISION NAVIGATION; SAFETY ALERTING SYSTEMS COCKPIT & FLIGHT DATA RECORDERS LIGHTING CABIN PRESSURE AND COOLING WEATHER RADARS FLIGHT CONTROLS FLIGHT MANAGEMENT SYSTEM SATELLITE COMMUNICATIONS Electronic Solutions Engines & Power Systems Control Systems FIRE CONTROL RADAR COMPONENTS SUBASSEMBLY FOR RADAR SUBASSEMBLY FOR ELECTRONIC WARFARE SYSTEM UNMATCHED BREADTH OF PRODUCT PORTFOLIO PROPULSION ENGINES POWER SYSTEMS (e.g., APU)
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COMMERCIAL ORIGINAL EQUIPMENT HSD% COMMERCIAL AFTERMARKET MSD% Well-Positioned to Capture Industry Upcycle; MSD - HSD Long-Term Sales CAGR High Business Jet Utilization Fractionals and other shared models enabling higher utilization flight hours per tail International Defense Exportable technologies and localized capabilities / support in Europe and Asia Pacific Exposure to Priority Areas Next-gen fighter jets and new platforms, such as unmanned, with strong HON content Historic OE Backlog Record, multi-year backlog supports demand for HON Air Transport offerings EXCITING INDUSTRY OUTLOOK ACROSS END MARKETS 12 DEFENSE & SPACE MSD% Resilient Air Travel Demand Secular travel demand continues to drive strong growth for HON across OE & AM Large Cabin Business Jets New platforms exhibiting industry-leading growth by volume, value, and utilization Source: Company estimates over 10-year forecast period
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RETROFITS, MODIFICATIONS & UPGRADES (RMU) “DECOUPLED” SOURCE OF SALES GROWTH Accelerating Initiatives to Achieve Incremental, Sustainable Growth 13 Adds new offerings and capabilities to installed base Growth not driven by flight hours and build rates ✓ ✓ RMU STRATEGIC FOCUS AREAS Avionics and Flight Efficiency Anti-jamming Modern Intuitive Avionics and Situational Awareness Collision Avoidance High Speed Satellite Connectivity Broadband Internet Precision and Resilient Navigation Non-GPS NAV Fuel Efficiency and Reliability High Efficiency Mode APU 2021 2022 2023 2024 ~$0.8B ~$1.5B23% CAGR COMPELLING FINANCIAL PROFILE Sales ~10% of Honeywell Aerospace sales in FY24 Sales come with attractive margins ✓ ✓
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• International sales >25% of Honeywell’s defense business in 2024 from ~10% in 2014, >$2B of 2024 wins • Civitanavi acquisition expands European footprint to deepen expertise, broaden scalable high-tech portfolio on the Continent • Significant international manufacturing and engineering capabilities in European Union, United Kingdom, and India UNIQUE POSITIONING IN INTERNATIONAL DEFENSE …AIDED BY GROWING DEFENSE BUDGETSACCELERATING INTERNATIONAL SALES… International Defense a Substantial Growth Tailwind 14 • Countries around the globe building up domestic defense industries in response to shifting geopolitics • International defense budget growth expected to meaningfully outpace U.S. over the next 5 years 1 • Honeywell aligned to key international defense needs (missiles, fighter jets, unmanned), fastest growing parts of budget 2019 2020 2021 2022 2023 2024 2025E 2025-2030 DEFENSE BUDGET CAGR 1 UK 5% Germany 10% India 8% Japan 9% HON INTERNATIONAL DEFENSE SALES Turkey 12% Australia 7% 1. Janes nominal defense budget CAGRs as of June 2025 2. Company internal estimate 2
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Transformation Required to Support Doubling of Revenue in 2030’s 15 SUPPLY CHAIN TRANSFORMATION DRIVING NEXT PHASE OF GROWTH PEOPLE & TALENT SOURCING RESILIENCY MANUFACTURING EXCELLENCE DIGITALIZATION & AUTOMATION 2026+2022 LEAD SUPPLY CHAIN RECOVERY EVOLVE STRATEGY AND COMPETENCIES EXPAND CAPABILITIES THROUGH AUTOMATION AND AI Investments and partnerships to optimize multi-sourced models Transform procurement-through-fulfillment with digital tools Scale next-generation smart factory initiatives Targeted capacity expansions aligned to new product rollouts Standardize materials and processes across footprint Insource critical, high-value component production Leverage AI software to improve purchasing and planning Reshape portions of precision manufacturing supply base Light Material Upgrade internal talent through new adds and enhanced skill development efforts Support lower-tier suppliers to scale qualified labor and improve output Eleven consecutive quarters of double-digit output growth1 Optimize regional network to increase reliability of supply model Operational Impact 1. Eleven consecutive quarters through 1Q25 Reinvigorate lean manufacturing for enhanced efficiency and performance
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1. Excluding the impact of Bombardier Agreement announced on December 2, 2024 Source: Company filings; Peers include: CW, GE, HEI, HWM, RR, RTX, SAF, TDG, WWD STRONG R&D TRACK RECORD… 0% 2% 4% 6% 2021 2022 2023 2024 HON Aero Peer average Company-Funded R&D as a Percentage of Sales …DELIVERING NEXT-GEN CAPABILITIES • Balanced approach to support positioning of current product portfolio while developing technologies for next-gen aircraft • R&D focused on driving growth across Retrofits, Modifications and Upgrades (RMUs) and OE new platforms • Increased R&D efficiency through global engineering and customer partnerships Well-Funded R&D Program Producing Customer Wins for New Technologies INNOVATION IS IN OUR DNA Company-Funded R&D as a Percentage of FY24 Sales 0% 2% 4% 6% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 HON Aero Peer 8 Peer 9 Peer Avg. = 3.1% 16 POWER OF HONEYWELL AEROSPACE’S R&D PLATFORM SIX ASSURE Electromechanical actuation system ANTHEM Advanced, integrated cloud-native cockpit FIVE ATTUNE Compact vapor cycle cooling solution FIVE Recent Platform Wins 1 1
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PRECISION NAVIGATION (RING LASER GYROS) High-accuracy inertial sensors COMMON TECHNOLOGY ACROSS VERTICALS AND PLATFORMS Defense & Space AUXILIARY POWER UNITS Essential backup power source FUEL CONTROL SYSTEMS Precise fuel flow for reliable engine performance COMMERCIAL AIR TRANSPORT ✓ ✓ ✓ BUSINESS JET ✓ ✓ ✓ DEFENSE & SPACE ✓ ✓ ✓ Virtuous Cycle Unlocks Scale and Efficiency To Enable High Returns on R&D Illustrative Examples Intentionally developing new products for use across vast, diverse customer base Breakthrough Innovation 17
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ADVANCED TECHNOLOGY LEADING FUTURE OF AVIATION • Defense engines • Fly-by-wire • Precision navigation / sensors Path to Autonomy • SURF-A surface alert • SmartLanding / SmartRunway • Electromagnetic defense solutions • Anti-jamming • Precision navigation • Attune vapor cooling system • Assure electromechanical actuation • HTF7K new engine series • Next-gen narrowbody APU • Anthem integrated flight deck • Next-gen flight management system Efficient Engines Electrification Increased Safety Next-Gen Defense UnmannedKEY TRENDS NEW KEY PRODUCTS Developing Innovative New Systems, Fueling Growth for Decades Ahead 18
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A Unique Aerospace-Focused Public Company Coming in 2H 2026 HONEYWELL AEROSPACE POWERING THE FUTURE OF AVIATION 19 Premier systems provider for all forms of aircraft, solving the most complex challenges and leading the industry towards greater electrification and autonomy Balanced end market and platform exposures enable capitalization on a multi-year upcycle across commercial air transport, business jet, and defense & space Mature operating system enhanced by large installed base, favorable mix of recurring aftermarket sales, and differentiated decoupled growth strategy
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1Q 2025 Earnings – April 29, 2025 20 Appendix
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21 NON-GAAP FINANCIAL MEASURES The following information provides definitions and reconciliations of a certain non-GAAP financial measure presented in this presentation to which this reconciliation is attached to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (GAAP). Management believes that, when considered together with reported amounts, this measure is useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. This measure should be considered in addition to, and not as a replacement for, the most comparable GAAP measure. Other companies may calculate this non-GAAP measure differently, limiting the usefulness of this measure for comparative purposes. Management does not consider this non-GAAP measure in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitations of this non- GAAP financial measure is that it excludes significant expenses and income that are required by GAAP to be recognized in the consolidated financial statements. In addition, it is subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining this non-GAAP financial measure. Investors are urged to review the reconciliation of the non-GAAP financial measure to the comparable GAAP financial measure and not to rely on any single financial measure to evaluate Honeywell’s business.
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22 RECONCILIATION OF ORGANIC SALES PERCENT CHANGE We define organic sales percentage as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures, for the first 12 months following the transaction date. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. 1Q25 Aerospace Technologies Reported sales percent change 14% Less: Foreign currency translation —% Less: Acquisitions, divestitures and other, net 5% Organic sales percent change 9%
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