Otis Worldwide Corp (NYSE:OTIS) Q2 2022 Earnings Conference Call July 27, 2022 8:30 AM ET Company Participants Michael Rednor - Senior Director, IR Judith Marks - Chair, President & CEO Rahul Ghai - CFO Anurag Maheshwari - Upcoming CFO Conference Call Participants Jeffrey Sprague - Vertical Research Partners Nigel Coe - Wolfe Research Nicholas Housden - RBC Capital Markets Charles Tusa - JPMorgan Chase & Co. John Walsh - Crédit Suisse Miguel Borrega - BNP Paribas Exane Julian Mitchell - Barclays Bank Joel S ...

OTIS WORLDWIDE CORPORATION Table of Contents 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, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39221 ______________ ...

Otis Worldwide Corporation (NYSE:OTIS) Q1 2022 Earnings Conference Call April 25, 2022 8:30 AM ET Company Participants Michael Rednor - Senior Director, Investor Relations Judy Marks - Chair, Chief Executive Officer and President Rahul Ghai - Executive Vice President and Chief Financial Officer Conference Call Participants Nigel Coe - Wolfe Research Steve Tusa - JPMorgan Jeff Sprague - Vertical Research Nick Housden - RBC Capital Markets Julian Mitchell - Barclays Joe O’day - Wells Fargo Cai von Rumohr - Co ...

| --- | --- | --- | --- | |-------|------------------------------------|---------------------------------------|-------| | | | | | | | | | | | | | Q1 2022 Earnings Call April 25, 2022 | | | | | | | | | © 2022 OTIS WORLDWIDE CORPORATION. | | | Forward-Looking Statements Note: All results and expectations in this presentation reflect continuing operations unless otherwise noted. This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forwa ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 ____________________________________ FORM 10-K ____________________________________ or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______. Commission file number 001-39221 ____________________________________ OTIS WORLDWIDE CORPORATION (Exact name of registrant as specified in its charter) ____________________________________ Delawar ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|------------------------------------|---------------------------|---------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Q4 2021 January 31, 2022 | Earnings Call | | | | | | | | | © 2022 OTIS WORLDWIDE CORPORATION. | | | | | Forward-Looking Statements Note: All results and expectations in this presentation reflect continuing operations unless otherwi ...

Financial Data and Key Metrics Changes - Net sales increased by 2.2% to $3.6 billion in Q4 2021, with organic sales growing for the fifth consecutive quarter, up 2.8% [23] - Adjusted operating profit rose by $11 million, with adjusted EPS up 9.1% or $0.06, driven by operating profit growth and a lower adjusted tax rate [24][37] - Free cash flow generated was $1.6 billion, representing approximately 115% to 120% conversion of GAAP net income [21] Business Line Data and Key Metrics Changes - New equipment orders increased by 7.3% in Q4 and 13.2% for the year, with significant growth in Asia Pacific and the Americas [11][25] - Maintenance portfolio grew by 3%, the best growth rate in over a decade, with a focus on digital connectivity [16] - Modernization orders were up 18.3% at constant currency, with service organic sales growing 4% [30] Market Data and Key Metrics Changes - The new equipment market is expected to grow mid- to high-single digits in the Americas, low single digits in EMEA, and down mid- to high single digits in Asia, particularly due to uncertainty in China [18] - Service growth is projected to be broad-based, with maintenance and repair expected to increase by 4% to 6% [42] Company Strategy and Development Direction - The company remains committed to shareholder value creation, completing $450 million in debt repayment and repurchasing $725 million of shares [10] - The focus on ESG initiatives continues, with the introduction of energy-efficient products and digital solutions [14][17] - The company aims to increase connectivity to approximately 60% of units under service by the medium term [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong recovery experienced in 2021, expecting momentum to continue into 2022 despite market dynamics remaining fluid [18] - The outlook for 2022 includes organic sales growth of 2.5% to 4.5%, with adjusted EPS expected to be in the range of $3.20 to $3.30 [20][39] - Management highlighted the importance of project timing in the Americas affecting revenue guidance for 2022 [53] Other Important Information - The company achieved a 115 basis points new equipment share gain, building on the previous year's growth [33] - The adjusted effective tax rate was reduced by 190 basis points, contributing to profit growth [37] - The company plans to recommence share buybacks once deleveraging is complete [72] Q&A Session Summary Question: Guidance for new equipment sales in the Americas - Management explained that the low single-digit guidance reflects project timing on major projects that will drive revenue later in 2022 [53] Question: Trends in China and backlog conversion - Management clarified that the guidance for China reflects a cautious approach due to the book and ship business, which is a significant portion of revenue [64][66] Question: Capital allocation strategy post-deleveraging - Management confirmed that they are on track to complete $500 million in deleveraging and will resume share buybacks once this is achieved [72] Question: Expectations for new equipment margins - Management indicated that commodity headwinds are expected to be a first-half issue, with margins improving in the second half of the year [68] Question: Sustainability of market share gains in China - Management expressed confidence in the sustainability of market share gains, citing strong performance and effective cash management [105][106]

Otis Worldwide Corporation (NYSE:OTIS) Q3 2021 Earnings Conference Call October 25, 2021 8:30 AM ET Company Participants Judith Marks – President and Chief Executive Officer Michael Rednor – Senior Director and Investor Relations Rahul Ghai – Executive Vice President and Chief Financial Officer Conference Call Participants Nigel Coe – Wolfe Research Jeff Sprague – Vertical Research Julian Mitchell – Barclays Patrick Baumann – JPMorgan Cai von Rumohr – Cowen John Walsh – Credit Suisse Miguel Beauregard – BNP ...

Table of Contents 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 September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39221 ____________________________________ ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|------------------------------------|---------------------------|---------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Q3 2021 October 25, 2021 | Earnings Call | | | | | | | | | © 2021 OTIS WORLDWIDE CORPORATION. | | | | | Forward-Looking Statements Note: All results and expectations in this presentation reflect continuing operations unless otherwi ...