Baird Global Industrial Conference November 2019 FORWARD-LOOKING STATEMENTS Statements in this presentation that are not historical statements, including statements regarding the 2019 full-year outlook, expected consolidated and segment financial results for 2019, and the financial and operational impact of the tornado damage to LII's manufacturing facility in Marshalltown, Iowa, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking ...

[Part I - Financial Information](index=3&type=section&id=Part%20I%20Financial%20Information) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The unaudited consolidated financial statements for the period ended September 30, 2019, show a slight increase in total assets to $2,214.8 million, driven by higher current assets and the adoption of new lease accounting standards (ASC 842) Consolidated Balance Sheet Highlights (in millions) | Account | Sep 30, 2019 (Unaudited) | Dec 31, 2018 | | :--- | :--- | :--- | | **Total Current Assets** | $1,317.3 | $1,089.4 | | **Total Assets** | $2,214.8 | $1,817.2 | | **Total Current Liabilities** | $1,109.9 | $1,008.5 | | **Total Liabilities** | $2,492.1 | $1,966.8 | | **Total Stockholders' Deficit** | $(277.3) | $(149.6) | Consolidated Statements of Operations Highlights (in millions, except per share data) | Metric | Q3 2019 | Q3 2018 | YTD 2019 | YTD 2018 | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $1,032.9 | $1,030.2 | $2,922.2 | $3,040.4 | | Gross Profit | $298.3 | $301.9 | $831.9 | $886.6 | | Operating Income | $156.8 | $145.2 | $465.3 | $393.3 | | Net Income | $114.7 | $108.0 | $294.7 | $283.4 | | Diluted EPS | $2.94 | $2.65 | $7.46 | $6.86 | Consolidated Statements of Cash Flows Highlights (Nine Months Ended Sep 30, in millions) | Cash Flow Activity | 2019 | 2018 | | :--- | :--- | :--- | | Net cash provided by operating activities | $124.5 | $231.3 | | Net cash (used in) provided by investing activities | $(23.1) | $59.3 | | Net cash used in financing activities | $(102.8) | $(316.6) | - In Q1 2019, the company sold its Kysor Warren business, resulting in a net loss of **$9.1 million**, which included **$49.0 million** in cash proceeds against **$50.5 million** in net assets sold and other costs[99](index=99&type=chunk) - In Q2 2019, the company transferred **$100.0 million** of pension plan assets and **$105.6 million** of related obligations, recognizing a **$60.6 million** pension settlement charge[88](index=88&type=chunk) - The company repurchased **1.5 million shares** for **$400.0 million** in the first nine months of 2019 under its share repurchase plans. As of September 30, 2019, **$46 million** remained available for future repurchases[92](index=92&type=chunk)[93](index=93&type=chunk) - A subsequent event in October 2019 involved another pension settlement, transferring **$75.0 million** in assets and **$77.9 million** in obligations, with an expected pre-tax loss of **$38.5 million** in Q4 2019[140](index=140&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=41&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes Q3 2019 performance to sales and profit growth in the Residential and Commercial Heating & Cooling segments, offset by a decline in the Refrigeration segment due to recent divestitures Q3 2019 vs Q3 2018 Consolidated Results (in millions) | Metric | Q3 2019 | Q3 2018 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $1,032.9 | $1,030.2 | 0.3% | | Gross Profit | $298.3 | $301.9 | (1.2)% | | Operating Income | $156.8 | $145.2 | 8.0% | YTD 2019 vs YTD 2018 Consolidated Results (in millions) | Metric | YTD 2019 | YTD 2018 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $2,922.2 | $3,040.4 | (3.9)% | | Gross Profit | $831.9 | $886.6 | (6.2)% | | Operating Income | $465.3 | $393.3 | 18.3% | - The Residential Heating & Cooling segment saw a **7% net sales increase** in Q3 2019, driven by **6% higher volume** and **1% favorable price/mix**. Segment profit rose **11.9% to $126.5 million**, significantly boosted by **$16 million** in insurance proceeds for lost profits related to the Marshalltown tornado[162](index=162&type=chunk)[163](index=163&type=chunk) - The Commercial Heating & Cooling segment's net sales grew **7%** in Q3 2019, from **4% higher volume** and **3% favorable price/mix**. Segment profit increased **5.1% to $47.1 million**[165](index=165&type=chunk)[166](index=166&type=chunk) - The Refrigeration segment's net sales decreased **28%** in Q3 2019, primarily due to a **27% impact** from the divestiture of the Kysor Warren and South America businesses. Segment profit fell **20.5% to $19.8 million**[167](index=167&type=chunk)[168](index=168&type=chunk) - Cash from operating activities decreased to **$124.5 million** for YTD 2019 from **$231.3 million** in YTD 2018, mainly due to the timing of working capital payments and the supply disruption in 2018 caused by the tornado[190](index=190&type=chunk) - Total debt increased to **$1,451.1 million** as of Sep 30, 2019, from **$1,041.3 million** at year-end 2018, primarily due to increased borrowings on the domestic credit facility to support share repurchases and other financing activities[76](index=76&type=chunk)[192](index=192&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=51&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's exposure to market risk, including risks related to commodity prices, interest rates, and foreign currency exchange rates, has not materially changed since the disclosures provided in its Annual Report on Form 10-K for the fiscal year ended December 31, 2018 - There have been no material changes in the company's market risk exposure since December 31, 2018[202](index=202&type=chunk) [Item 4. Controls and Procedures](index=51&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of September 30, 2019 - The CEO and CFO concluded that disclosure controls and procedures were effective as of September 30, 2019[203](index=203&type=chunk) - New controls and an IT system were implemented in Q1 2019 to adopt the new lease accounting standard, ASC 842[204](index=204&type=chunk) [Part II - Other Information](index=52&type=section&id=Part%20II%20Other%20Information) [Item 1. Legal Proceedings](index=52&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various claims and lawsuits incidental to its business operations, with management believing none will have a material adverse effect on financial position or results - Management believes that ongoing claims and lawsuits will not have a material adverse effect on the company's financial condition or results[206](index=206&type=chunk) [Item 1A. Risk Factors](index=52&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the company's risk factors from those disclosed in its Annual Report on Form 10-K for the year ended December 31, 2018 - No material changes have occurred in the company's risk factors since the 2018 Form 10-K filing[207](index=207&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=52&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During the third quarter of 2019, the company repurchased a total of 529,538 shares of its common stock, with **$45.8 million** remaining available for future repurchases Q3 2019 Share Repurchases | Period | Total Shares Purchased | Average Price Paid per Share | Shares Purchased Under Plan | Remaining Authorization (in millions) | | :--- | :--- | :--- | :--- | :--- | | July 1 - Sep 30 | 529,538 | - | 520,375 | $45.8 | - The total share repurchases for the first three quarters of 2019 amounted to **$400 million** ($100M in Q1, $150M in Q2, $150M in Q3)[209](index=209&type=chunk) [Item 6. Exhibits](index=53&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including corporate governance documents, debt indentures, and officer certifications - Filed exhibits include corporate governance documents, debt indentures, officer certifications (31.1, 31.2, 32.1), and XBRL data files[211](index=211&type=chunk)[212](index=212&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 _________________________________________________ FORM 10-Q _________________________________________________ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to ______ Indicate by check mark whether the registrant (1) has fi ...

Commission file number 001-15149 _________________________________________________ LENNOX INTERNATIONAL INC. Incorporated pursuant to the laws of the State of Delaware _________________________________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2019 Internal Revenue Service Employer Identification No. 42-0991521 2140 LAKE PAR ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 Commission File Number 001-15149 LENNOX INTERNATIONAL INC. (Exact name of Registrant as specified in its charter) Delaware 42-0991521 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 2140 Lake Park Blvd. Richardson, Texas 75080 (Address of princip ...