Trane Technologies Announces Completely New Residential HVAC Product Portfolio

Trane Technologies (NYSE: TT), a global climate innovator, today announced its new residential product portfolio with innovative design upgrades to its highly efficient heat pumps and air conditioners, including next-generation refrigerant with 78% less global warming potential (GWP). Designed for even higher efficiency, the company's re-engineered products will enable homeowners to meet their heating and cooling needs while reducing their energy costs and carbon footprints.

"As a global climate innovator, we're continually on the leading edge of new, sustainable technologies, and have proudly led the industry in the transition to next-generation refrigerants," said Dwayne Cowan, president, Residential HVAC, Trane Technologies. "Coupled with our advancements in energy efficiency and clean technology, this will play an integral role in achieving our Gigaton Challenge ? a pledge to reduce one billion metric tons of greenhouse gas emissions from our customers' carbon footprints by 2030. We are proud to continue driving bold climate action ? doing the right thing for our industry, our customers, and the planet."

"At Trane Technologies, we believe that improving efficiency is foundational for a decarbonized future," said Katie Davis, vice president of engineering and technology, Residential HVAC, Trane Technologies. "We seized the transition to a new, low-GWP refrigerant as an opportunity to redesign our product portfolio with our cutting-edge technology, lead within the emissions reduction space and further innovate for a more sustainable world."

Enhancements to the product portfolio include:

• Next-Generation, Low-GWP Refrigerant ? More sustainable, environmentally conscious R-454B refrigerant and Refrigerant Detection System technology with factory-installed sensors and mitigation panels to ensure safety.
• Industry-Unique Energy Efficiency Upgrades ? One-of-a-kind variable speed systems that automatically adjust to more than 700 speeds based on real-time demands, enabling maximum energy efficiency, cost savings and comfort.
• Smart Systems ? Connected technology, including Trane® Link and the Trane Home app, enabling comprehensive, real-time diagnostics, ease of install and the potential for up to 5% additional energy savings.

Ahead of federal regulations and deploying a phased approach throughout 2024, beginning with the company's 15 SEER2 heat pump, Trane Technologies will transition most of its residential products from R-410A to R-454B ? with all units exceeding safety standards.

Trane Technologies has been a leader in the transition to next-generation refrigerants. The company today uses R-454B in a variety of commercial HVAC systems, and has used it successfully in field trials of its prototype for the U.S. Department of Energy's Cold Climate Heat Pump Challenge ? which outperformed laboratory tests by surpassing the negative 20 degrees Fahrenheit requirement. Electric-powered heat pumps, which both heat and cool by moving warm air in or out of a home, are among the most energy-efficient products eligible for incentives and rebates available through the Inflation Reduction Act and Energy Efficient Home Improvement Tax Credit.

Through bold, industry-leading action and innovation, Trane Technologies is advancing its 2030 Sustainability Commitments, including the Gigaton Challenge to reduce customer emissions by a billion metric tons and its pledge to reach net-zero carbon emissions by 2050. The company's emissions reduction targets have been externally validated by the Science Based Targets Initiative (SBTi).

Read more about Trane Technologies' industry-leading residential refrigerant transition.

About Trane Technologies

Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes, and transportation. Learn more at tranetechnologies.com.

About Trane

Trane ? by Trane Technologies (NYSE: TT), a global climate innovator ? creates comfortable, energy efficient indoor environments for commercial and residential applications. For more information, please visit www.trane.com or www.tranetechnologies.com.

Forward Looking Statements

This news release includes "forward-looking statements" within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to innovations to develop efficiency and decarbonization solutions, and our sustainability commitments and the impact of these commitments. These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. Factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2023, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We assume no obligation to update these forward-looking statements.