Carrier Expands India Manufacturing Footprint with $100 Million Sri City Investment

Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced a $100 million investment in a new manufacturing facility in Sri City, Andhra Pradesh, India. The facility will increase manufacturing capacity to support growing domestic and global demand, with a focus on high-growth sectors including data centers, commercial, real estate and critical infrastructure.

Carrier Chairman & CEO David Gitlin announced the investment during a visit to India, where he broke ground on the new facility, underscoring the country's importance to the company's global growth strategy. The new facility builds on Carrier's nearly 40 - year manufacturing presence in India.

"India is one of our most important growth markets and an integral part of our operations," Gitlin said. "As demand for high-performance, energy-efficient cooling continues to accelerate, particularly in data centers and critical infrastructure, we are deepening our commitment by building, innovating and investing in India to scale our manufacturing, engineering and digital capabilities for long-term growth. We have had a tremendous team in India for decades and we are excited to double-down on our commitment to the country and region."

Aligned with the Government of India's 'Make in India' initiative, the facility will advance localization across manufacturing and supply chains while supporting the deployment of connected, digitally enabled climate and energy solutions. Carrier's engineering and innovation hubs in Hyderabad and Gurugram further strengthen India's role in its global ecosystem, supporting manufacturing, digital capabilities and services across regions.

"We are excited to expand our manufacturing and R&D footprint in India with this investment, a significant step that reflects our commitment to harnessing strong growth across key sectors, including AI, infrastructure and urbanization," said Michael Gierges, President, Climate Solutions Asia Pacific, Middle East & Africa, Carrier. "This strategic investment not only strengthens our position in India but also underscores our dedication to fostering innovation and excellence across the broader region. We are helping shape a more sustainable future."

For more information on Carrier India, visit www.carrier.com/commercial/en/in/ .

About Carrier

Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit carrier.com or follow Carrier on social media at @Carrier .

Carrier. For the World We Share.