Acquisition Of Silent-Aire - Johnson Controls

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Acquisition ofSilent-AireApril 9, 2021

Forward Looking & Cautionary Statements /Non-GAAP Financial InformationJohnson Controls International plc Cautionary Statement Regarding Forward-Looking StatementsJohnson Controls International plc has made statements in this communication regarding the acquisition of Silent-Aire that are forward-looking and therefore are subject to risks and uncertainties. All statements inthis 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, statementsregarding 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 areforward-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 toidentify 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 numerousimportant risks, uncertainties, assumptions and other factors, some of which are beyond Johnson Controls’ control, that could cause the expected impact of the acquisition of Silent-Aire to differ materially fromthose expressed or implied by such forward-looking statements, include, among others, risks related to the ability to realize the anticipated benefits of the acquisition, including the possibility that expected synergieswill not be realized or will not be realized within the expected time frame; delays in the successful integration of Silent-Aire; unfavorable reaction to the acquisition by customers, competitors, suppliers andemployees, disruption from the transaction making it more difficult to maintain business and operational relationships; significant transaction costs; and unknown liabilities.Other factors that could cause Johnson Controls’ actual results to differ materially from those expressed include, 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-19pandemic; 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 todevelop 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 Controlsto 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 governmentalproceedings; 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; theavailability 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 cancellationof 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 forthe 2020 fiscal year filed with the SEC on November 16, 2020, which is available at www.sec.gov and www.johnsoncontrols.com under the “Investors” tab. Shareholders, potential investors and others shouldconsider 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 thedate 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 orcircumstances occurring after the date of this communication.Non-GAAP Financial InformationThe Company’s presentation contains financial information regarding adjusted earnings per share, which is a non-GAAP performance measure. The adjusting items include transaction costs, integration costs anddeal amortization. Management may use this metric as a guide in forecasting, budgeting and long-term planning processes and for compensation purposes. This metric should be considered in addition to, and notas replacements for, the most comparable GAAP measure.2Johnson Controls, plc. — April 9, 2021

Highly Strategic Acquisition in an Attractive Growth Market TransactionSummary StrategicRationaleAttractive GlobalGrowth Market3Johnson Controls, plc. — April 9, 2021 Total purchase price up to 870M, including 3-year earnout based on annual growth and marginprojections, with an upfront payment of 630M Total transaction value equates to low-double digit multiple (LTM EV/EBITDA) Upfront payment (excluding earnout) equates to high-single digit multiple (LTM EV/EBITDA) All-cash transactionExpected to close late FQ3, subject to regulatory approvals and other customary closing conditionsExpected to be immediately accretive; adds 0.07 to 0.09 in adjusted EPS in FY22Establishes leadership position in hyperscale data center technologyExpands portfolio of cooling solutions, complementing existing HVAC portfolio Mature Direct Evaporative Cooling (DEC) / Computer Room Air Handling (CRAH) product offering Strengthens relationships with key data center players (i.e., hyperscale/cloud)Modular Data Center offering provides on-demand, flexible capacity additionsOpportunity to expand Silent-Aire’s geographic reach in key regions (e.g. Asia-Pacfic, Europe)Opportunity to leverage JCI’s Service & OpenBlue digital capabilities with Silent-AireStrategic focus on high-growth hyperscale/cloud and colocation data center marketDEC technology expected to remain the preferred cooling technology for hyperscale customersData center customers requiring more sustainable, energy efficient cooling optionsModular Data Centers and Equipment Room solutions well positioned to benefit from the shift to the“edge” trend in data centers

Company OverviewPROFILEHeadquarters:Edmonton, AlbertaSALES MIXFounded:1994Employees: 3,000By PlatformModularData CenterFY 2021E (May) Sales: 650M 5yr CAGR: 40%30%Locations:4 Sales/Service 13 Manufacturing ( 1M sq ft)70%Canada, US & EuropeHyperscaleCooling SolutionsDescription:Technology-drivencompany that designs,engineers, andmanufactures hyperscalecooling and modular datacenter solutionsKey Products/Solutions:Direct Evaporative Cooling Units (DECs),Computer Room Air Handlers (CRAHUs),Modular Data Centers (MDCs), ModularEquipment Rooms (MERs)By GeographyEurope12%88%NorthAmerica4Johnson Controls, plc. — April 9, 2021

Market Leader in Hyperscale Data Center Cooling SolutionsSilent-Aire’s Competitive Advantages: 650MRevenue (US , FY 5/31)40%CAGR1)Advantaged AHU / DEC products and execution Optimized, flexible manufacturing capacity Agile innovation; technology roadmap leadership2)Data center vertical privilege of focus3)Customer centric, execution orientated business model Direct sales approach, SME engagement at all levels Strong & authentic culture laser focused on customersatisfaction “On-time” and “high-performance” mentality – businesscontinuity is imperative 90M 2015201620172018201920202021E4)Hyperscale customers demand reliability, resilience andflexibility from their OE Silent-Aire has outgrown the hyperscale coolingmarket by 10-15ppts per year 5Johnson Controls, plc. — April 9, 20215)Deeply entrenched relationships with key customersStrong reputation for delivering on quality and safetyHigh value-add Modular Data Centers product offering Rapidly deployable, turn-key modular solutions

Attractive Market Opportunity: Hyperscale Data CentersTop 5 “Hyperscalers”Data Center Cooling Solutions: 6-7B TAM(by DC subsegment) 6.5BCAGR: 10-12% Top-5 account for 75% of total hyperscale capex( 100B annual spend) Demand for data continues to increase at a highrate increasing the capacity needs and workload ofservers terprise Modular Data Centers: 3B TAM (by type)Hyperscale Cooling Solutions CAGR 10-12% Hyperscalers prefer innovative DEC coolingtechnology – more attractive sustainability andtotal cost-of-ownership profile EMEA & APAC expected to grow 15-20% p.a. 3.0BCAGR: 15-20% 201920202021Pre-Fab6Johnson Controls, plc. — April 9, 20212022Turn-Key20232024Server rack power density expected to double by2023 – requires increased cooling capacity &server level controlsModular Data Centers CAGR 15-20% Edge computing growth Shift to pre-fabricated modular constructionmethods and turn-key solutions

With Silent-Aire, Johnson Controls Advances Leadership Position inHyperscale Data Centers Leading DEC / AHU technology roadmap Modular DC expertise – Integrated DataCenters (MDCs) and Equipment Rooms(MERs) World-class project execution capabilities Flexible manufacturing and pre-integration Data Center focus & culture Trusted, long term customers relationships Global manufacturing scale & capabilityDataCenters Global service network Cross-domain expertise‒ York Mission Critical Applied Chillertechnology (YVFA, YVAM)HVACFire‒ York AHUs/CRAHUs/RTUs‒ Air Distribution products‒ OpenBlue Digital SuiteServiceSecurity‒ Metasys building controls / BAS‒ Fire Detection & Suppression1Sustainability &ReliabilityBroader portfolio ofsustainable & reliabledata center solutions2Expand GloballyLeverage JCI’s scale inEMEA & APAC toexpand Silent-Aire’sproduction andcustomer relationships3 Data CenterPlatformHolistic, integrated solutionsthat drive hyperscale andedge data center technologyroadmapsDigital4 ServiceLeverage JCI’s globalservice footprint toincrease serviceattachment inhyperscale data centersCombination Creates Industry Leading Hyperscale Solutions Platform with 2B Future Revenue Opportunity7Johnson Controls, plc. — April 9, 2021BuildingManagement

IR CONTACTS Antonella Franzen Chief Investor Relations & Communications Officer antonella.franzen@jci.com Ryan Edelman Executive Director, Investor Relations ryan.edelman@jci.com

Chief Investor Relations & Communications Officer antonella.franzen@jci.com Ryan Edelman Executive Director, Investor Relations ryan.edelman@jci.com IR CONTACTS. linkedin-logo-high-res-1254-1024x1024 - National Due Diligence Services. Twitter Logo PNG, Free Transparent Twitter Icon - Free Transparent PNG Logos. High .

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