Carrier Acquires Cavius, an Innovative Residential Alarm Company

Strategic acquisition expands Carrier's Healthy Homes offering and strengthens its interconnected Fire & Security portfolio

PALM BEACH GARDENS,Fla.,Oct. 19,2021 --CarrierGlobal Corporation (NYSE:CARR)the leading global provider of healthy,safe,sustainable and intelligent building and cold chain solutions,has acquired Cavius,an innovative Danish residential alarm company that provides a complete range of smoke,heat,flood and carbon monoxide alarms. Cavius is a pioneer in the advancement of alarms,including the invention of the world's smallest photoelectric smoke alarm,which is distinguished by its award-winning European-approved micro-design. Cavius will strengthen Carrier Fire & Security's residential fire safety solutions in Europe,which includes leading Kiddeproducts.

"The acquisition of Cavius,combined with the market strength of Kidde,will accelerate our innovation pipeline,grow our interconnected home safety offering and strengthen our professional and retail customer channels," said Jurgen Timperman,President,Carrier Fire & Security. "Cavius' broadly appealing products along with Carrier's geographic presence will also provide unique opportunities to expand into new territories across Europe with the potential for further global expansion in key regions like Asia."

Kidde is a world leader in the fire protection industry and offers a full range of essential home safety products,including smoke and carbon monoxide alarms,fire extinguishers and fire blankets.

The acquisition of Cavius enhances Carrier's Healthy Homesrange in Europe,Australia and New Zealand with new,uniquely designed products that will reach a growing consumer demographic seeking premium,highly designed interconnected home safety technologies.

"We're excited to join Carrier and share a mutual commitment to making the world a safer place to live," said Glenn Højmose,CEO,Cavius. "Together we will continue providing best-in-class innovative and differentiated offerings. We also look forward to joining forces to shape the future of Healthy Homes and taking our solutions to more consumers around the world."

The terms of the transaction were not disclosed.

About Carrier

As the leading global provider of healthy,Carrier Global Corporation is committed to making the world safer,sustainable and more comfortable for generations to come. From the beginning,we've led in inventing new technologies and entirely new industries. Today,we continue to lead because we have a world-class,diverse workforce that puts the customer at the center of everything we do. For more information,visit www.Corporate.Carrier.comor follow us on social media at @Carrier.

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Contact:

Ivanette Bonilla

561-329-8392

Ivanette.Bonilla@Carrier.com