Carrier Plans to Reduce Customers' Carbon Footprint by More than One Gigaton

Sets ambitious,new 2030 sustainability goals

Aims for carbon neutrality by 2030

Planned investment of more than $2 billion in healthy,safe and sustainable solutions for buildings and cold chain

PALM BEACH GARDENS,Fla.,Nov. 30,2020 --Carrier Global Corporation(NYSE: CARR) today announced the company's firstset of Environmental,Social & Governance (ESG) goals since becoming an independent company in April. Building on the company's vision to create solutions that matter for people and our planet,Carrier is targeting carbon neutrality across its operations by 2030. The company is also aiming to reduce its customers' carbon footprint by more than one gigaton,supported by a planned investment of more than $2 billion over the next 10 years toward the development of healthier,safer and more sustainable building and cold chain solutions.

"At Carrier,we are applying our industry-leading innovation to fight climate change through new energy-efficient product offerings and through lower emissions in our operations," said Dave Gitlin,President & CEO,Carrier. "Our 2030 goals will drive our company to be a positive catalyst for societal change in our areas of expertise,including healthy buildings and the cold chain,as well as in the communities in which we operate around the world."

The 2030 ESG Goals include a transformation of the company's operations to be carbon-neutral while maintaining world-class safety metrics,and the incorporation of leading sustainable design principles from manufacturing through end-of-life.

Additional goals include the following:

Achieve carbon and water neutral operations and deliver zero-waste to landfill from our manufacturing locations

Establish a responsible supply chain program and assess key factory suppliers against program criteria

Achieve gender parity in senior leadership roles and a diverse workforce that represents the communities in which Carrier's employees live and work

Positively impact our communities through enabling access to safe and healthy indoor environments,alleviating hunger and food waste,and volunteering our time and talent

Invest in STEM education programs that promote diversity and inclusion,and promote sustainability through education,partnerships and climate resiliency programs

Maintain world-class safety metrics

The full list of Carrier's 2030 ESG Goals is available at corporate.carrier.com. Carrier's new ESG strategy and goals build on the company's performance outlined in the 2020 ESG Report,released in July. The report details Carrier's ESG achievements in 2019 against 2020 goals and serves as a baseline for many of the 2030 ESG Goals.

About Carrier

As the leading global provider of healthy,safe and sustainable building and cold chain solutions,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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Cautionary Statement:

This press release contains forward-looking statements (including statements that constitute forward-looking statements under the securities laws). These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance,based on assumptions currently believed to be valid. Forward-looking statements may include,among other things,statements relating to future sales,earnings,cash flow,results of operations,uses of cash,share repurchases,tax rates and other measures of financial performance or potential future plans,strategies or transactions of Carrier,estimated costs associated with the separation from United Technologies,statements with respect to current and future potential implications of corporate social responsibility and sustainability topics and other statements that are not historical facts. All forward-looking statements involve risks,uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For those statements,we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995. The forward-looking statements speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statements,whether as a result of new information,future events or otherwise,except as required by applicable law. Additional information as to factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements is disclosed from time to time in our other filings with the Securities and Exchange Commission.

Contact:

Ashley Barrie

860-416-3657

Ashley.Barrie@Carrier.com