Trane Technologies Prices $500 Million Senior Notes Offering

SWORDS, Ireland–(BUSINESS WIRE)–Trane Technologies plc (NYSE: TT) (the “Company”), a global climate innovator, today announced the pricing of an aggregate $500 million principal amount of 5.100% senior notes due 2034, which will be issued by its indirect, wholly-owned subsidiary, Trane Technologies Financing Limited. The net proceeds from the offering are expected to be used to fund the repayment at maturity of the $500 million aggregate principal amount of the outstanding 3.550% Senior Notes issued by Trane Technologies Financing Limited, as successor issuer to Trane Technologies Luxembourg Finance S.A., which are scheduled to mature on November 1, 2024.

The notes will be guaranteed by the Company, Trane Technologies Global Holding II Company Limited, Trane Technologies Americas Holding Corporation, Trane Technologies Lux International Holding Company S.à r.l., Trane Technologies Irish Holdings Unlimited Company, Trane Technologies Company LLC and Trane Technologies Holdco Inc., each of which is a wholly-owned subsidiary of the Company. The offering is expected to close on June 13, 2024, subject to the satisfaction of customary closing conditions.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Mizuho Securities USA LLC are acting as representatives of the underwriters.

The Company has filed an effective registration statement (including a prospectus supplement and accompanying base prospectus) with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the effective registration statement (including the prospectus supplement and accompanying base prospectus) for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: 1-800-831-9146, E-mail: prospectus@citi.com; or from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York 11717, or by e-mail: JPMorganPostSale@broadridge.com; or from Mizuho Securities USA LLC, 1271 Avenue of the Americas, New York, New York 10020, Telephone: 1-866-271-7403.

These securities are only offered by means of the prospectus supplement and accompanying base prospectus related to the offering. This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of securities mentioned in this news release in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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.

This news release includes or is based on “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, without limitation, statements regarding the Company’s offering of the notes and its intended use of the proceeds. 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. For more discussion relating to the risks and uncertainties that could cause actual results to differ from those anticipated in the Company’s forward-looking statements, please refer to the Company’s Form 10-K for the year ended December 31, 2023 under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” as well as the Company’s other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for the Company to predict these events or how they may affect the Company. The Company assumes no obligation to update these forward-looking statements.

Contacts

Media Contact:
Travis Bullard

+1-919-802-2593

Media@tranetechnologies.com

Investors Contact:
Zachary Nagle

+1-704-990-3913

InvestorRelations@tranetechnologies.com