2024 Outlook1

Otis is revising its full year outlook:

•Net sales of ~$14.2 billion

•Organic sales up ~1.5%

◦Organic New Equipment sales down mid to high single digits

◦Organic Service sales up ~6.5%

•Adjusted operating profit of ~$2.375 billion, up ~$140 million at constant currency; up ~$105 million at actual currency

•Adjusted EPS of ~$3.85, up ~9%; adjusted effective tax rate of approximately 25.0%

•Adjusted free cash flow of approximately $1.4 billion to $1.5 billion

1Note: When we provide outlook for organic sales, adjusted operating profit, adjusted effective tax rate and adjusted free cash flow on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures generally is not available without unreasonable effort. See "Use and Definitions of Non-GAAP Financial Measures" below for additional information.