OTIS

• Second quarter 2026 net sales were $3.9 billion, up 7% year-over-year, with organic sales up 6%.
• Service segment net sales rose 11% to $2.6 billion, with organic sales up 9%; modernization orders up 9% at constant currency.
• New Equipment net sales were flat at $1.3 billion, with organic sales down 1%.
• Full-year 2026 outlook revised: net sales of $15.1-$15.3 billion, adjusted EPS of $4.01-$4.05, adjusted free cash flow of $1.50-$1.55 billion.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• All 10 director nominees were elected, with votes for ranging from 306,737,433 (Judith F. Marks) to 320,204,663 (Christopher J. Kearney).
• The advisory say-on-pay proposal for named executive officer compensation was approved with 300,604,166 votes for and 19,385,429 against.
• PricewaterhouseCoopers LLP was appointed as independent auditor for 2026, receiving 344,841,469 votes for.
• A shareholder proposal on reporting political contributions and expenditures was not approved, with 145,402,369 for and 173,399,850 against.

5.07 Submission of Matters to a Vote of Security Holders

• The notes were sold under an underwriting agreement dated May 4, 2026, with J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, and SMBC Nikko Securities America, Inc. as representatives.
• Net proceeds are estimated at approximately $695.2 million, to be used to repay the 0.318% Notes due December 15, 2026, and for other corporate purposes.
• The notes mature on May 7, 2029, with interest payable semi-annually on May 7 and November 7, beginning November 7, 2026.
• The notes are unsecured, unsubordinated obligations, redeemable at make-whole premium before April 7, 2029, and at par thereafter, with a change of control put at 101%.

8.01 Other Events · 9.01 Financial Statements and Exhibits

• GAAP EPS increased 43% to $0.87; adjusted EPS decreased 3% to $0.89.
• Service net sales grew 11% (organic up 5%), with repair net sales up 16% (organic up ~10%).
• Modernization orders up 11% at constant currency; New Equipment orders up 1% at constant currency.
• Full-year 2026 outlook revised: net sales $15.1–$15.3 billion, adjusted EPS $4.20–$4.24, adjusted free cash flow $1.60–$1.65 billion.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Full year 2025 net sales were $14.4 billion, up 1%, with GAAP EPS down 14% to $3.50 and adjusted EPS up 6% to $4.05.
• Service segment Q4 net sales up 8% (organic up 5%), with segment operating profit margin expanding 100 bps to 25.5%.
• New Equipment Q4 net sales down 5% (organic down 6%), with segment operating profit margin contracting 110 bps to 3.6%.
• 2026 outlook: net sales of $15.0-$15.3 billion, adjusted EPS up mid to high single digits, adjusted free cash flow of $1.6-$1.7 billion.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Enrique Miñarro Viseras, 48, was appointed Chief Operating Officer by the Board of Directors on January 13, 2026, effective January 16, 2026.
• His base salary will increase to $820,000, and his annual short-term incentive target will be 120% of base salary under the Executive Short-Term Incentive Plan.
• He is eligible for an annual equity award commencing with fiscal year 2026 with a target value of $3,500,000 under the 2020 Long-Term Incentive Plan.
• The Compensation Committee approved an amendment to his existing employment agreement to reflect the new compensatory terms.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits

• GAAP EPS decreased 29% to $0.95, while adjusted EPS increased 9% to $1.05.
• Service segment net sales grew 9% (organic up 6%), with operating profit margin expanding 70 bps to 25.5%.
• New Equipment net sales declined 4% (organic down 5%), with operating profit margin contracting 170 bps to 4.7%.
• Otis increased the midpoint of its 2025 adjusted EPS outlook to $4.04-$4.08, up 5-7%.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• On September 4, 2025, Otis Worldwide Corporation issued $500 million aggregate principal amount of 5.131% Notes due 2035.
• Net proceeds are estimated at approximately $495.2 million, to be used to repay the 0.370% Yen Notes due 2026 (¥21.5 billion outstanding) and commercial paper, plus general corporate purposes.
• The notes mature on September 4, 2035, with interest payable semi-annually on March 4 and September 4, beginning March 4, 2026.
• The notes are unsecured, unsubordinated obligations, redeemable at make-whole prior to June 4, 2035, and subject to a change of control put at 101%.

8.01 Other Events · 9.01 Financial Statements and Exhibits