Carrier Global Corporation is a global leader in intelligent climate and energy solutions, focusing on providing differentiated, digitally-enabled lifecycle solutions. The company's portfolio includes industry-leading brands such as Carrier, Toshiba, Automated Logic, Carrier Transicold, Kidde, Edwards and LenelS2, offering innovative HVAC, refrigeration, fire, security, and building automation technologies. Carrier also provides related building services, including audit, design, installation, system integration, repair, maintenance, and monitoring. The company's operations are affected by global and regional industrial, economic, and political factors and trends, including urbanization, climate change, and increasing requirements for food safety. Carrier believes its business segments are well-positioned to benefit from these trends and from the strength of its brands and innovation.

• Employees: Approximately 53,000 (as of December 31, 2023)
• Geographic Footprint: Operations in the Americas (58% of sales), EMEA (22%), and Asia-Pacific (20%)
• Headquarters: Palm Beach Gardens, Florida
• Founded: 2020 (Spin-off from United Technologies)
• Number of locations/facilities: Approximately 1,100 sites
• Revenue: $22.1 billion (FY2023)
• Key Subsidiaries/Brands: Carrier, Toshiba, Automated Logic, Carrier Transicold, Kidde, Edwards and LenelS2

• CEO: David Gitlin
• CFO: Patrick Goris
• Other Key Executives: Ajay Agrawal (Senior Vice President, Global Services and Healthy Buildings), Kyle Crockett (Vice President, Controller), Kevin J. O'Connor (Senior Vice President, Chief Legal Officer), Jurgen Timperman (President, Fire & Security), Nadia Villeneuve (Senior Vice President, Chief Human Resources Officer), Timothy White (President, Refrigeration)

David Gitlin was appointed Chairman of the Board in April 2021 and President and CEO in June 2019. Patrick Goris was appointed CFO in November 2020. Other executives have varied tenures in their respective roles.

• Annual Revenue: $22.1 billion (FY2023)
• Operating Profit: $2.3 billion (FY2023)
• Net Income: $1.3 billion (FY2023)
• Total Assets: $32.8 billion (as of December 31, 2023)
• Employees: Approximately 53,000 (as of December 31, 2023)
• Key Financial Highlights: Net sales increased by 8% compared to 2022. Operating profit decreased by 49% compared to 2022, and net income decreased by 62% compared to 2022.

Carrier offers a wide range of products and services across its segments:

• HVAC: Products, controls, services, and solutions for heating, cooling, and ventilation needs in residential and commercial settings, including air conditioners, heating systems, heat pumps, controls, and aftermarket components.
• Refrigeration: Products, services, and digital solutions for the transport and preservation of food, medicine, and other perishable cargo, including refrigerated cabinets, freezers, and systems for trucks, trailers, shipping containers, and food retail.
• Fire & Security: Residential, commercial, and industrial technologies for protecting people and property, including fire, flame, gas, smoke, and carbon monoxide detection, portable fire extinguishers, fire suppression systems, intruder alarms, access control systems, and video management systems.

Carrier manages its operations through three segments:

• HVAC: Provides products, controls, services and solutions for heating, cooling and ventilation needs. Net sales were $15.1 billion in 2023.
• Refrigeration: Offers transport refrigeration and monitoring products, services and digital solutions. Net sales were $3.8 billion in 2023.
• Fire & Security: Provides a wide range of technologies designed to help protect people and property. Net sales were $3.6 billion in 2023.

Carrier's strategy is to be a global leader in intelligent climate and energy solutions, focusing on differentiated, digitally-enabled lifecycle solutions. The strategy is supported by favorable secular trends, including health and wellness, sustainability, digitalization, and energy transition. Key strategic initiatives include:

• Strengthening and growing the core business through innovation and brand management.
• Increasing product extensions and geographic coverage through targeted expansion.
• Growing aftermarket, digital, and customer-backed solutions.
• Positioning itself as a leader in innovative electrified solutions.

Carrier operates in the climate and energy solutions industry, which is characterized by significant competition from various companies globally. Key competitive factors include technology differentiation, product performance, service, delivery schedule, and price. The company is a significant competitor in each of its major product and service offerings. The industry is influenced by trends such as urbanization, climate change, and increasing requirements for food safety.

• Market Position: A global leader in intelligent climate and energy solutions.
• Key Competitors: Competition varies from regional to specialized companies, as well as larger public and private companies.
• Industry Trends: Mega-trends of urbanization, climate change, and increasing requirements for food safety.

• International Operations: Risks associated with international operations, including fluctuating exchange rates and changes in local regulations.
• Strategic Relationships: Risks related to joint ventures and other strategic relationships, which may not be successful.
• Climate Change and Regulations: Risks associated with climate change, government regulations, and incentives.
• Cybersecurity: Risks associated with cybersecurity incidents that could disrupt operations and result in the loss of confidential information.
• Supply Chain: Risks related to raw material availability, supplier performance, and third-party service providers.