PR83560

PALM BEACH GARDENS, Florida, April 3, 2020 /PRNewswire=KYODO JBN/ --

-- Spin-off complete from United Technologies Corp.

Carrier Global Corporation (

https://c212.net/c/link/?t=0&l=en&o=2767880-1&h=2273573810&u=http%3A%2F%2Fwww.corporate.carrier.com%2F&a=Carrier+Global+Corporation

) (NYSE: CARR) today debuted as an independent, publicly traded company after

successfully completing its separation from United Technologies. Shares of

Carrier, a global leader in creating building and refrigeration solutions that

matter for people and our planet, will begin "regular-way" trading on the New

York Stock Exchange (NYSE) today at market open under the symbol "CARR."

Logo - https://mma.prnewswire.com/media/985365/Carrier_Logo.jpg

A leading provider of innovative heating, ventilating and air conditioning

(HVAC), refrigeration, and fire & security technologies, Carrier's products and

services are essential for modern life, particularly in today's global

environment. The company has an extensive global footprint with approximately

53,000 employees, offering solutions in more than 160 countries. Carrier has

leading positions in critical segments, including North American residential

HVAC, commercial HVAC equipment in major markets, global fire detection and

suppression, global access controls for security systems, and refrigerated

equipment for the North American and European truck trailer and container

businesses.

"Against the backdrop of unprecedented global uncertainty, Carrier and its

employees remain focused and continue to solve critical challenges – from

improving indoor air quality, protecting the world's food and pharmaceutical

supply and keeping people safe and secure. I am honored to lead this fantastic

company and now, more than ever, I am incredibly proud of the perseverance and

resiliency of our talented workforce," said Carrier President & CEO Dave

Gitlin. "For more than a century, Carrier has been a symbol of excellence, and

today, as a standalone company, we have defined our own strategy, vision,

culture and priorities. We have an unmatched legacy and look forward to

delivering sustainable long-term growth to our shareowners and other

stakeholders."

Strategy

As an independent company, Carrier will have greater focus and enhanced agility

based on its own distinct operating priorities and strategies for long-term

growth and profitability, including strengthening and growing its core

businesses, extending its product range and geographical coverage, and

expanding service and digital offerings. The company is well-positioned with

strong megatrends driving sustained industry growth, leading positions with

significant installed base, a disciplined operating system, and an unwavering

commitment to innovation.

Corporate Social Responsibility

Carrier will continue to contribute meaningfully to communities around the

world through employee volunteerism and environmentally responsible operations,

products and services. Carrier's recent $3 million, three-year donation to The

Nature Conservancy (

https://c212.net/c/link/?t=0&l=en&o=2767880-1&h=954734786&u=https%3A%2F%2Fwww.corporate.carrier.com%2Fnews%2Fnews-articles%2Fcarrier_commits_3_million_nature_conservancy_help_combat_climate_change.html&a=%243+million%2C+three-year+donation+to+The+Nature+Conservancy

) will help cities better prepare for climate change and support the

development of online STEM education for children around the world, and is a

testament to Carrier's commitment to environmental leadership.

"We are a world leader in providing energy-efficient solutions for buildings

around the world. We are deeply committed to driving a leadership position in

sustainable solutions for the planet and for future generations. Strengthening

our global community makes us a stronger company, creating shared value for our

business and society," said Gitlin. "As a standalone company, we have the

ability to leverage our legacy of industry leadership and sustainability to

address the challenges of today and tomorrow while executing our vision and

growth strategy."

Learn more about the new Carrier at www.Corporate.Carrier.com.

About Carrier

Carrier Global Corporation is a leading global provider of innovative heating,

ventilating and air conditioning (HVAC), refrigeration, fire, security and

building automation technologies. Supported by the iconic Carrier name, the

company is committed to making the world safer and more comfortable for

generations to come through its industry-leading brands such as Carrier, Kidde,

Edwards, LenelS2 and Automated Logic. For more information, visit

www.Corporate.Carrier.com or follow us on social media at @Carrier (

https://c212.net/c/link/?t=0&l=en&o=2767880-1&h=3900875241&u=http%3A%2F%2Fwww.twitter.com%2Fcarrier&a=%40Carrier

).

Cautionary Statement. This communication contains statements which, to the

extent they are not statements of historical or present fact, constitute

"forward-looking statements" under the securities laws. From time to time, oral

or written forward-looking statements may also be included in other information

released to the public. These forward-looking statements are intended to

provide management's current expectations or plans for Carrier's future

operating and financial performance, based on assumptions currently believed to

be valid. Forward-looking statements can be identified by the use of words such

as "believe," "expect," "expectations," "plans," "strategy," "prospects,"

"estimate," "project," "target," "anticipate," "will," "should," "see,"

"guidance," "outlook," "confident" and other words of similar meaning in

connection with a discussion of future operating or financial performance or

the separation from United Technologies. Forward-looking statements may

include, among other things, statements relating to future sales, earnings,

cash flow, results of operations, uses of cash, share repurchases, tax rates

and other measures of financial performance or potential future plans,

strategies or transactions of Carrier following the separation, including the

estimated costs associated with the separation and other statements that are

not historical facts. All forward-looking statements involve risks,

uncertainties and other factors that may cause actual results to differ

materially from those expressed or implied in the forward-looking statements.

For those statements, Carrier claims the protection of the safe harbor for

forward-looking statements contained in the U.S. Private Securities Litigation

Reform Act of 1995. Such risks, uncertainties and other factors include,

without limitation: (1) the effect of economic conditions in the industries and

markets in which Carrier and its businesses operate in the U.S. and globally

and any changes therein, including financial market conditions, fluctuations in

commodity prices, interest rates and foreign currency exchange rates, levels of

end market demand in construction, the impact of weather conditions, pandemic

health issues (including the coronavirus and its effects, among other things,

on global supply, demand, and distribution disruptions as the coronavirus

outbreak continues and results in an increasingly prolonged period of travel,

commercial and/or other similar restrictions and limitations), natural

disasters and the financial condition of Carrier's customers and suppliers; (2)

challenges in the development, production, delivery, support, performance and

realization of the anticipated benefits of advanced technologies and new

products and services; (3) future levels of indebtedness, including

indebtedness incurred in connection with the separation, and capital spending

and research and development spending; (4) future availability of credit and

factors that may affect such availability, including credit market conditions

and Carrier's capital structure; (5) the timing and scope of future repurchases

of Carrier common stock, which may be suspended at any time due to various

factors, including market conditions and the level of other investing

activities and uses of cash; (6) delays and disruption in the delivery of

materials and services from suppliers; (7) cost reduction efforts and

restructuring costs and savings and other consequences thereof; (8) new

business and investment opportunities; (9) the anticipated benefits of moving

away from diversification and balance of operations across product lines,

regions and industries; (10) the outcome of legal proceedings, investigations

and other contingencies; (11) pension plan assumptions and future

contributions; (12) the impact of the negotiation of collective bargaining

agreements and labor disputes; (13) the effect of changes in political

conditions in the U.S. and other countries in which Carrier and its businesses

operate, including the effect of changes in U.S. trade policies or the United

Kingdom's withdrawal from the European Union, on general market conditions,

global trade policies and currency exchange rates in the near term and beyond;

(14) the effect of changes in tax, environmental, regulatory (including among

other things import/export) and other laws and regulations in the U.S. and

other countries in which Carrier and its businesses operate; (15) the ability

of Carrier to retain and hire key personnel; (16) the scope, nature, impact or

timing of acquisition and divestiture activity, including among other things

integration of acquired businesses into existing businesses and realization of

synergies and opportunities for growth and innovation and incurrence of related

costs; (17) the expected benefits of the separation; (18) a determination by

the IRS and other tax authorities that the distribution or certain related

transactions should be treated as taxable transactions; (19) risks associated

with indebtedness incurred as a result of financing transactions undertaken in

connection with the separation; (20) the risk that dis-synergy costs, costs of

restructuring transactions and other costs incurred in connection with the

separation will exceed Carrier's estimates; and (21) the impact of the

separation on Carrier's business and Carrier's resources, systems, procedures

and controls, diversion of management's attention and the impact on

relationships with customers, suppliers, employees and other business

counterparties. The above list of factors is not exhaustive or necessarily in

order of importance. For additional information on identifying factors that may

cause actual results to vary materially from those stated in forward-looking

statements, see Carrier's registration statement on Form 10 and the reports of

Carrier on Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC from

time to time. Any forward-looking statement speaks only as of the date on which

it is made, and Carrier assumes no obligation to update or revise such

statement, whether as a result of new information, future events or otherwise,

except as required by applicable law.

SOURCE Carrier Global Corporation

CONTACT: Ashley Barrie, +1 561-365-1260, Ashley.Barrie@Carrier.com