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Exhibit 99 • OTIS REPORTS FIRST QUARTER 2021 RESULTS Delivers strong first quarter results with sales growth and margin expansion in both segments and double digit New Equipment orders growth ; improves 2021 outlook Net sales up 14.9 % ; organic sales up 10.3 % GAAP operating profit up $ 180 million with 380 basis points of margin expansion Adjusted operating profit up $ 83 million with 40 basis points of margin expansion New Equipment orders up 18.4 % ; backlog up 8 % , 2 % at constant currency GAAP cash flow from operations of $ 585 million ; free cash flow of $ 541 million Completed $ 300 million in share repurchases Improved outlook * for full - year with organic sales up 4 to 6 % , adjusted earnings per share of $ 2.78 to $ 2.84 and free cash flow of $ 1.35 to $ 1.45 billion FARMINGTON , Conn . , April 26 , 2021 - Otis Worldwide Corporation ( NYSE : OTIS ) reported first quarter 2021 net sales of $ 3.4 billion with 10.3 % organic growth . GAAP diluted earnings per share ( EPS ) increased 86.8 % to $ 0.71 and adjusted diluted EPS increased 20.0 % to $ 0.72 . " Otis had an excellent start to the year . Our New Equipment orders were up high teens , including growth in every region , and we saw increased organic sales and margin expansion in both segments . Continued robust cash flow generation enabled us to buy back $ 300 million of shares early in the year , " said President and CEO Judy Marks . " This positive momentum combined with continued progress in executing our strategy and recovery in the end markets gives us confidence to improve our 2021 outlook , raise dividends by 20 percent and increase our share repurchase target to half a billion dollars , demonstrating our ongoing commitment to create value for our shareholders . " Key Figures ( $ millions , except per share amounts ) Net sales Organic sales 2021 $ 3,408 Quarter Ended March 31 , 2020 $ 2,966 Y / Y Y / Y ( CFX ) 14.9 % 10.5 % 10.3 % GAAP Operating profit Operating profit margin Net income Earnings per share $ 509 14.9 % $ 329 $ 180 11.1 % 380 bps $ 308 $ 165 86.7 % $ 0.71 $ 0.38 86.8 % Adjusted non - GAAP comparison Operating profit $ 533 $ 450 $ 83 $ 57 Operating profit margin 15.6 % 15.2 % 40 bps Net income $ 312 $ 262 19.1 % Earnings per share $ 0.72 $ 0.60 20.0 %