HONEYWELL COLLABORATES WITH PETRONAS FOR STRATEGIC SUSTAINABILITY, DIGITALIZATION, AND CARBON NEUTRAL ENERGY INITIATIVES

Four focus areas: digital transformation,sustainability and emissions management,cybersecurity,and leadership and capability management.

KUALA LUMPUR,Malaysia,March 28,2022 -- Honeywell (NASDAQ: HON) and PETRONAS have signed a Memorandum of Understanding (MoU) to collaborate on sustainability solutions in process technologies,industrial automation,and plant digitalisation and in achieving carbon-neutral energy projects in the country.

Left-right: Hj Bacho Pilong,SVP PD&T Petronas,Hj Badrul Hisham Ibrahim,Head Group Technical Solutions PD&T Petronas,Ravikrishnan Srinivasan,Honeywell VP GM Industrial Innovation HCE,Norm Gilsdorf,Honeywell VP Global HGR and ASEAN President.

The MoU was signed on the sidelines of the biennial Offshore Technology Conference Asia (OTC Asia) by Honeywell Vice President of Global High Growth Regions and President of ASEAN,and PETRONAS Senior Vice President (SVP) of Project Delivery & Technology (PD&T),Bacho Pilong. At the conference,the companies have been discussing growth opportunities and the benefits of leveraging Honeywell's innovative solutions and technologies to help Petronas achieve its sustainability,digitalization,and productivity goals.

PETRONAS,the custodian of Malaysia's national oil and gas resources and a global energy solutions partner,will collaborate with Honeywell for breakthrough solutions within four specific areas: digital transformation,and leadership and capability management. These solutions will support PETRONAS's growth strategy and low-carbon agenda by employing proven Honeywell technologies for productivity,carbon capture and utilization,energy storage and digital twins.

"We greatly value the long-standing relationship between our two companies and Honeywell is looking forward to collaborating with and assisting PETRONAS in accelerating their strategy on sustainability,digitalization and productivity," said Norm Gilsdorf,Vice President Honeywell Global High Growth Regions and President of Honeywell ASEAN."

He added,"Honeywell is committed to bringing our expertise and experience in connecting processes,assets and people by means of industrial software,innovative solutions and proven technologies that will help Petronas unlock tremendous value for the industry."

The collaboration marks one of the first of its kind in harmonizing processes and business analytics into an integrated,cutting-edge technology and 5G-enabled secured asset operations for PETRONAS.

"The solutions will support PETRONAS in effortlessly achieving the highest-ever standards of accuracy,reliability,profitability,and security. We are proud to collaborate with PETRONAS in integrating digitalisation and sustainability to the next level," concluded Gilsdorf.

PETRONAS Senior Vice President of Project Delivery & Technology,Bacho Pilong said that as a progressive energy and solutions partner enriching lives for a sustainable future,PETRONAS maintains that its pursuits of growth address the three-bottom line of 'people,planet,and profit'.

"While the people are direct beneficiaries of our solutions and innovations,we want to bring greater positive impact to them through capability development,which is a key area of this MoU. This is in line with PETRONAS' nation building efforts,especially in supporting the country's push toward an inclusive digital economy," Pilong closed.

Honeywell is the global leader in industrial automation software,analytics and solutions and ecosystem for plant digitalization,connected plant programs and cybersecurity solutions. Honeywell's innovative process is designed to improve performance and help make refining,petrochemicals,and upstream operations safer,more efficient,smarter and reduce greenhouse gas emissions.