Viessmann Werke GmbH & Co. KG - Experts & Thought Leaders

Carrier Global Corporation announced that it has completed its acquisition of Viessmann Climate Solutions from the Viessmann Group. The transaction marks another meaningful step forward in Carrier’s portfolio transformation, further strengthening the company’s global leadership position in intelligent climate and energy solutions. Renewable climate solutions The combination adds a premier brand with a differentiated direct-to-installer channel model and a key pioneering provider of highly efficient and renewable climate solutions with a 100+ year record of innovation and sustainability to Carrier’s existing portfolio. Viessmann Climate Solutions’ highly talented 12,000 team members further strengthen Carrier’s position as the pioneering HVAC provider globally, now positioning Carrier in the fast-growing Residential and Light Commercial (RLC) space in Europe. Thomas Heim, who previously led Viessmann Climate Solutions, will lead Carrier RLC HVAC in Europe, the Middle East and Africa, which includes Viessmann Climate Solutions and Carrier’s RLC business in the region, including Riello. Intelligent climate and energy solutions Carrier’s business into a higher growth business with a clear focus and mandate on global leadership" “The combination with Viessmann Climate Solutions creates the most comprehensive and differentiated suite of sustainable climate technologies and services in the industry today,” said Carrier Chairman & CEO - David Gitlin. He adds, “The transaction, together with the planned exits of our Fire & Security and Commercial Refrigeration businesses, will transform Carrier’s business into a higher growth business with a clear focus and mandate on global leadership in intelligent climate and energy solutions.” Viessmann Climate Solutions Effective immediately, Max Viessmann, CEO of Viessmann Group, joins Carrier’s Board of Directors. “I look forward to working closely with Dave and his leadership team as well as my fellow Board Directors, to build a future-proof, truly global, climate champion,” said Max Viessmann, adding “I could not be more excited about this combination, which lays the perfect basis to capture growth opportunities and maximize impact for generations to come.” The addition of Viessmann Climate Solutions positions Carrier as a digitally enabled, scalable, end-to-end sustainable climate and energy solutions provider that addresses all heating, cooling, renewables, solar PV, battery storage and energy management needs for the home. 

Britta Permats is the Managing Director at Svensk Ventilation (The Swedish Ventilation Association), where she previously served as Technical and Environmental Manager. As part of their ‘Faces of the Eurovent Commission’ series, she gave a synopsis of the Swedish IAQ and IEQ initiatives that Svensk Ventilation participates in. Britta Permats has been long involved in the Eurovent Commission and several Task Forces of Eurovent. She is a Heating Ventilation and Air Conditioning (HVAC) Engineer, who also studied physical education and health at the Swedish School of Sport and Health Sciences, GIH. Extensive industry experience Britta Permats has worked in various positions at different global companies Britta Permats has worked in various positions at different global companies, including as an HVAC Planner, a Technical and Service Manager at Viessman Sweden, as a Work and Environment Inspector at the Swedish Work Environment Authority and also as a Business Developer at FlaktGroup. As part of the ‘Faces of the Eurovent Commission’ series, Eurovent managed to ask Britta Permats about the Swedish initiatives impacting Indoor Air Quality (IAQ) and Indoor Environmental Quality (IEQ). Swedish IAQ and IEQ initiatives What are the Swedish initiatives or projects that are being undertaken to increase local Indoor Air Quality (IAQ) and or Indoor Environmental Quality (IEQ) and how sustainable are they? Svensk Ventilation’s vision is for a healthy and energy efficient indoor climate for everyone and the task of Svensk Ventilation is to communicate that, a better indoor climate and long-term energy savings contribute to better health and a reduced climate impact. Svensk Ventilation Svensk Ventilation is invested in quite a number of initiatives and some of their initiatives or projects include a number of seminars for property owners about ventilation, Indoor Air Quality (IAQ) and Indoor Environmental Quality (IEQ) and sustainability. They recently participated in the politician week in Almedalen 2023 (Gotland) with a seminar about energy-efficient and healthy buildings with a low climate impact. The Almedalen Week is the democratic meeting place for everyone. Almedalen Week It offers a magical place for dialog, exchange and unexpected meetings that help to develop the society. They saw this as an opportunity to meet up with people in an informal and relaxed atmosphere and interact with them about energy-efficient and healthy buildings with a low climate impact. They have created campaigns about the importance of ventilation with IAQ focus (2021) As an association that represents members from all the different trades within the industry, on their behalf, they participate in meetings and seminars in the Swedish Parliament to discuss energy efficiency and how to improve IEQ. They have created campaigns about the importance of ventilation with IAQ focus (2021) and with focus on energy efficiency in 2024. Currently, they are planning for the Nordbygg 2024 fair, which will take place on 23-26 April 2024, in parallel with the RoomVent 2024 exhibition, together with Swedvac (EMTF), which they participate in. RoomVent exhibition RoomVent gathers policymakers, designers, researchers, engineers, and other professionals. It provides an exclusive opportunity to meet up and an excellent forum to share and disseminate technical information and new ideas, as well as to discuss the latest developments and future direction in the fields of HVAC and the built environment. One other project that they take action in is producing reports, writing articles and debate articles on IEQ, energy efficiency and sustainability. Over the past couple of years, they have realized the importance of documenting the acute information, this is the first step in advocating for better indoor air quality and indoor environmental quality, and they surely look forward to be involved and participating in more initiatives in the future.

The Viessmann Group has announced plans to combine its business area ‘Viessmann Climate Solutions’ with Carrier Global Corporation (Carrier), a global provider of intelligent climate and energy solutions with headquarters in Palm Beach Gardens, Florida (USA). With this step, Viessmann Group’s business area Climate Solutions and Carrier will be co-creating a new global champion for climate and energy solutions. The new transatlantic partnership underlines the importance of international, cross-border collaboration in the fight against global climate change. Cross-border collaboration Both companies are fully committed to take more responsibility for a sustainable energy transition in the building sector, focusing on their purposes: Viessmann Group’s purpose is to co-create living spaces for generations to come. Carrier’s vision is to create solutions that matter for people and our planet. Both companies regard the climate goals in North America and Europe as a once-in-a-century opportunity to make a positive impact, by actively shaping sustainable climate and energy solutions for future generations. Viessmann Group’s purpose is to co-create living spaces for generations to come Viessmann Group Chairman of the Board of Directors Prof. Dr. Martin Viessmann: “Strong partnerships have always been fundamental to the success of our family business in the past 106 years. And Carrier is a strong partner for our Climate Solutions business. By joining forces, we will be able to uplift our impact on the decarbonization of the building sector to the next level with more reach and scale globally – for our family members and for our partners and most importantly for more climate protection.” Climate Solutions business Viessmann Group CEO Max Viessmann: “The world’s energy transition can only be managed successfully if companies think, act and collaborate on a global level. Building on our very positive growth momentum and a market-leading integrated solutions offering, we are combining our Climate Solutions business area with Carrier to build the next future-proof, truly global, climate champion. Through the combination of both companies, we are forming a fast-growing innovation leader in a highly competitive market environment – from a position of strength. This partnership lays the perfect basis to jointly capture growth opportunities and maximize our impact for generations to come.” Carrier CEO David L. Gitlin: “Viessmann Group’s business area ‘Climate Solutions’ is an outstanding business with a superior market position, unmatched distribution channels and huge growth opportunities. Its success is based on its superb workforce which has a strong value-driven culture and its game-changing integrated solutions offering. Martin and Max have built Europe’s most recognized premium climate solutions brand and Carrier is fully committed to further building on that growth momentum. We are thrilled to co-create the future of the intelligent climate and energy solutions industry together.” Premium climate solutions The family business will become one of the largest shareholders in Carrier Combining its Climate Solutions business with Carrier will bring multiple benefits: 1. Continued commitment by the Viessmann Group: The family business will become one of the largest shareholders in Carrier, upon closing. Consequently, Viessmann Group CEO Max Viessmann will become a new member of the Board of Directors of Carrier. These steps will secure a strong involvement of the entrepreneurial founding family with clear focus on long-term growth. Residential and commercial segment 2. Further growth through more scale and reach: Carrier Group’s HVAC division is in a pioneering position in the residential and commercial segment in North America as well as in the commercial segment in Europe. Viessmann Group’s Climate Solutions business is a pioneer in Europe’s premium residential segment. Carrier has a strong footprint in Asia via its local brand Toshiba Carrier Corporation Consequently, the combination of both companies will become an unprecedented market pioneer in both residential and commercial segments in both North America and Europe. Additionally, Carrier has a strong footprint in Asia via its local brand Toshiba Carrier Corporation. As a new global champion in intelligent climate and energy solutions company globally, Carrier and Viessmann Climate Solutions will generate total revenue of more than US$ 17 billion with about 45,000 employees – a strong setup to outperform competition all across the globe. Commercial HVAC business 3. Leadership in Europe: Following the closing of the transaction, which is expected by the end of the year, Viessmann Climate Solutions, led by CEO Thomas Heim, will become a major driver of Carrier’s growth strategy for the residential and light commercial HVAC business in Europe. Its headquarters will remain in Allendorf, Germany. Viessmann UK is headquartered in Telford where over 130 people are employed in the Climate Solutions business. 4. Broader integrated climate solutions offering: Customers and installation partners of both companies will significantly benefit from a wider product range as well as after-sales-services, digital and value-added solutions. They will also profit from higher production capacities and reduced delivery times for renewable energy solutions including a broader bandwidth of heat pumps, battery storages, photovoltaics and ventilation solutions. Climate Solutions employees The new partnership between Viessmann Climate Solutions and Carrier is a partnership of the century 5. Progress with continuity: Both parties have agreed on long-term guarantees: Refraining from terminations for operational reasons (3 years), site guarantees for all main manufacturing and R&D locations (5 years) as well as the headquarters in Allendorf (10 years). Moreover, the guarantees will secure the long-term future of the business area, leveraging global scale for procurement, logistics, manufacturing, supply chain, product development, sales and services. The new partnership between Viessmann Climate Solutions and Carrier is a partnership of the century. The entrepreneurial family recognizes the team effort by all family members, upon the successful closing of the new partnership: A sum of EUR 106 million for 106 years of success will be distributed as a one-time bonus for all Climate Solutions employees. All Viessmann Group activities outside the Climate Solutions business area are not affected by the transaction. Co-creating living spaces The Viessmann Group will continue to remain an independent family business in full ownership of the Viessmann entrepreneurial family. It will continue its entrepreneurial activities following its purpose of co-creating living spaces for generations to come. Going forward, it will be building an ecosystem that will focus on CO2 avoidance, CO2 reduction and CO2 capturing, beyond the HVAC sector. Moreover, the family business will retain full ownership of its iconic brand The Viessmann family will reinvest the primary proceeds from the combination with Carrier into the Viessmann Group, but also a significant amount allocated to its philanthropic activities. Moreover, the family business will retain full ownership of its iconic brand. While Carrier will license and grow the Viessmann brand in the HVAC industry, the Viessmann Group will expand its brand reach into other sectors. It will also maintain a close collaboration with Carrier across company boundaries at the operational level. Non-consolidated entities The Viessmann Group – excluding its Climate Solutions business area – generates a total revenue of EUR 1 billion in sales – including non-consolidated entities – with around 4,000 employees. Looking ahead, the clear goal and ambition of the Viessmann Group is to grow it to a size that is larger than the Climate Solutions business area today, latest by the end of the decade. We are creating the best conditions to fulfill our purpose by combining the best of two worlds" Viessmann Group Chairman of the Board of Directors Prof. Dr. Martin Viessmann: “We are taking the next step in the history of our family business by moving beyond heating solutions towards an ecosystem of strong co-creators who take responsibility for future generations by fostering solutions in all facets of sustainable clean energy. We are creating the best conditions to fulfill our purpose by combining the best of two worlds: A broadly positioned Viessmann Group and a global partnership with Carrier for the Climate Solutions business area.” Beyond heating solutions Viessmann Group CEO Max Viessmann: “Global climate change is progressing quickly and our 1.5 degree climate goal is getting out of reach. As a solution-oriented family company, we see our responsibility as making more positive contributions against the negative trend of climate change – above and beyond the HVAC sector.” “Therefore, we will support, foster and focus on all aspects, solutions and technologies that avoid, reduce or capture CO2 emissions. On this journey, we will align everything we do along our purpose of co-creating living spaces for generations to come. Following this ambition, we will also handover a family business to the next generations that is stronger, broader and more diverse than ever before.”