On June 18, 2024, Carrier Global Corporation (the Company) announced that Jurgen Timperman, President, Fire & Security of the Company, would be stepping down, effective as of July 1, 2024, following the recent closing of the Company?s sale of the Security Access Solutions Business to Honeywell on June 3, 2024 and the expected third quarter 2024 closing of the Company?s previously announced sale of its Industrial Fire Business to Sentinel Capital Partners. In connection with his departure, and in part because his separation will qualify as a ?mutually agreeable termination? and ?early retirement?

under certain Company plans and his existing agreements, Mr. Timperman will be entitled to receive certain payments and benefits.