Johnson Controls International : First Quarter Fiscal 2021 Earnings Conference Call

First Quarter 2021

Earnings

Conference Call

January 29, 2021

Forward Looking & Cautionary Statements /

Non-GAAP Financial Information

Johnson Controls International plc Cautionary Statement Regarding Forward-Looking Statements

Johnson Controls International plc has made statements in this communication that are forward-looking and therefore are subject to risks and uncertainties. All statements in this document other than statements of historical fact are, or could be, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In this communication, statements regarding Johnson Controls' future financial position, sales, costs, earnings, cash flows, other measures of results of operations, synergies and integration opportunities, capital expenditures and debt levels are forward-looking statements. Words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "forecast," "project" or "plan" and terms of similar meaning are also generally intended to identify forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Johnson Controls cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Johnson Controls' control, that could cause Johnson Controls' actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, risks related to: Johnson Controls' ability to manage general economic, business, capital market and geopolitical conditions, including the impacts of natural disasters, pandemics and outbreaks of contagious diseases and other adverse public health developments, such as the COVID-19 pandemic; the strength of the U.S. or other economies; changes or uncertainty in laws, regulations, rates, policies or interpretations that impact Johnson Controls' business operations or tax status; the ability to develop or acquire new products and technologies that achieve market acceptance; changes to laws or policies governing foreign trade, including increased tariffs or trade restrictions; maintaining the capacity, reliability and security of Johnson Controls' enterprise and product information technology infrastructure; the risk of infringement or expiration of intellectual property rights; any delay or inability of Johnson Controls to realize the expected benefits and synergies of recent portfolio transactions such as its merger with Tyco and the disposition of the Power Solutions business; the outcome of litigation and governmental proceedings; the ability to hire and retain key senior management; the tax treatment of recent portfolio transactions; significant transaction costs and/or unknown liabilities associated with such transactions; the availability of raw materials and component products; fluctuations in currency exchange rates; work stoppages, union negotiations, labor disputes and other matters associated with the labor force; the cancellation of or changes to commercial arrangements. A detailed discussion of risks related to Johnson Controls' business is included in the section entitled "Risk Factors" in Johnson Controls' Annual Report on Form 10-K for the year ended September 30, 2020 filed with the United States Securities and Exchange Commission ("SEC") on November 16, 2020, which is available at www.sec.govand www.johnsoncontrols.comunder the "Investors" tab. Shareholders, potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this communication are made only as of the date of this document, unless otherwise specified, and, except as required by law, Johnson Controls assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this communication.

Non-GAAP Financial Information

This presentation contains financial information regarding adjusted earnings per share, which is a non-GAAP performance measure. The adjusting items include restructuring and impairment costs, transaction costs, integration costs, net mark-to-market adjustments, Power Solutions divestiture reserve adjustment and discrete tax items. Financial information regarding organic sales, EBIT, EBIT margin, total segment EBITA, adjusted segment EBITA, adjusted segment EBITA margin, adjusted Corporate expense, free cash flow, free cash flow conversion, net debt and net debt/EBITDA are also presented, which are non-GAAP performance measures. Adjusted segment EBITA excludes special items such integration costs because these costs are not considered to be directly related to the underlying operating performance of its business units. Management believes that, when considered together with unadjusted amounts, these non-GAAP measures are useful to investors in understanding period-over-period operating results and business trends of the Company. Management may also use these metrics as guides in forecasting, budgeting and long-term planning processes and for compensation purposes. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. For further information on the calculation of the non-GAAP measures and a reconciliation of these non-GAAP measures, refer to the attached footnotes.

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Executing On Our Commitments

• Strong start to the year; solid financial performance
• Remaining focused on:
• • Our Employees & Communities…
  • Our Customers & Suppliers…
  • Improving Fundamentals…
  • Executing Our Strategy…
• Key strategic announcements and external recognition
• Ambitious new ESG commitments
• Significant traction on key vectors of growth
• • OpenBlue Healthy Buildings
  • Services
  • Products

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Strategic Announcements & External Recognition

OpenBlue Digital Twin Collaboration with Microsoft

OpenBlue Digital Twin + Azure Digital Twins creates a foundational platform that enables customers to reimagine their physical assets, harnessing the power of AI and cloud computing to build digital replicas and deliver actionable insights

Recognized by CDP for Leadership in Climate Change

Received an A- rating for climate change leadership, in recognition for our actions to reduce emissions and mitigate climate change in 2020, as well as an A rating for risk disclosure and governance

Ranked in Corporate Knights 2021 Global 100 Most Sustainable Companies

Corporate Knight's Global 100 index annually reviews over 8,000 companies, ranking only 100 based on their score across 24 indicators related to sustainability and diversity, including "clean" revenues and investment, carbon productivity, and the gender and racial diversity of the board and executives

Ranked in Drucker Institute/WSJ Management Top 250

JCI placed # 88 in the Drucker Institutes annual Management Top 250 ranking, scoring the highest marks (5-stars) in social responsibility, and 4-stars in both customer satisfaction and innovation.

Company Rankings

Named "IoT Partner Ecosystem of the Year" in 2021 IoT Breakthrough Awards

The company was honored for its OpenBlue digital platform and extensive work implementing a network of OpenBlue Innovation Centers around the world. Both are part of Johnson Controls' commitment to deliver healthy people, healthy places and a healthy planet.

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