The following Management’s Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from the results discussed in the forward-looking statements. Factors that may cause a difference include, but are not limited to, those discussed under Part I, Item 1A – Risk Factors in the Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The following section is qualified in its entirety by the more detailed information, including our Condensed and Consolidated Financial Statements and the notes thereto, which appears elsewhere in this Quarterly Report. Overview Organization Allegion plc and its consolidated subsidiaries (“Allegion,” “the Company,” “we,” “our,” or “us”) are a leading global provider of security products and solutions operating in two segments: Allegion Americas and Allegion International. We sell a wide range of security products and solutions for end-users in commercial, institutional and residential facilities worldwide, including the education, healthcare, government, hospitality, retail, commercial office and single and multi-family residential markets. Our leading brands include CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Recent Developments Business and Industry Trends and Outlook and Global Trade and Macroeconomic Environment In the second quarter of 2026, we delivered low-double digit revenue growth compared to the same period in 2025, driven by volume growth, favorable pricing and the impact from recent acquisitions. Demand for electronic security products has also remained strong and continues to be a long-term growth driver. On February 20, 2026, the U.S. Supreme Court ruled that certain tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”) were invalid, and in March 2026, the U.S. Court of International Trade further ruled that importers that paid such tariffs are due refunds. In the second quarter of 2026, U.S. Customs and Border Protection launched a system to process IEEPA tariff refund claims, and we formally submitted claims for qualifying IEEPA tariff refunds. Refunds received related to those claims have not been significant. Although we may be entitled to additional refunds of previously paid IEEPA tariffs, the amount and timing of any such refunds remain uncertain, and as of June 30, 2026 we have not recorded any amounts for recoveries that have not been received. The global tariff landscape continues to shift, and we continue to monitor these developments and assess their potential impacts. Following these rulings, new tariffs were imposed under other laws and on imports from more countries, in addition to existing non-IEEPA tariffs. Through the six months ended June 30, 2026, we have offset inflation due to tariffs with pricing actions. We continue to analyze the impact of changes in tariffs and what steps, if any, including pricing actions, we may take to mitigate the impact of the tariffs. We estimate we source approximately 20-25% of cost of goods sold (“COGS”) from Mexico, less than 5% of COGS from China, and 5-10% of COGS from all other non-U.S. countries. Existing or new tariffs could impact future demand. Acquisitions On March 2, 2026, we, through our subsidiaries, acquired 100% of Door Components, Inc. (“DCI”), a manufacturer of custom, quick ship hollow metal doors and frames for industrial, commercial and institutional markets based in the United States. DCI is reported in the Company’s Allegion Americas segment. The purchase consideration, net of cash acquired, was approximately $70 million. This acquisition was accounted for as a business combination and was funded with available cash on hand and borrowings under the Revolving Facility. 2026 Dividends and Share Repurchases During the six months ended June 30, 2026, we paid dividends of $1.10 per ordinary share to shareholders. On April 15, 2026, the Board replenished the funds available for the repurchase of the Company’s ordinary shares under its existing share repurchase program and, as a result, authorized the repurchase of a total amount of up to $500.0 million of the Company’s ordinary shares under the program. During the six months ended June 30, 2026, we repurchased approximately 1.2 million shares for $160.6 million. 17 Table of Contents Results of Operations – Three months ended June 30 In millions, except per share amounts 2026 % of revenues 2025 % of revenues Net revenues $ 1,151.5 $ 1,022.0 Cost of goods sold 634.0 55.1 % 555.5 54.4 % Selling and administrative expenses 262.8 22.8 % 246.8 24.1 % Operating income 254.7 22.1 % 219.7 21.5 % Interest expense 24.8 24.6 Other expense (income), net 2.0 (5.3) Earnings before income taxes 227.9 200.4 Provision for income taxes 43.3 40.7 Net earnings $ 184.6 $ 159.7 Diluted net earnings per ordinary share: $ 2.15 $ 1.85 The discussions that follow describe the significant factors contributing to the changes in our results of operations for the periods presented and form the basis used by management to evaluate the financial performance of the business. Net Revenues Net revenues for the three months ended June 30, 2026, increased by 12.7%, or $129.5 million, compared with the same period in 2025, due to the following: Pricing 3.3 % Volume 3.6 % Acquisitions / divestitures 5.1 % Currency exchange rates 0.7 % Total 12.7 % The increase in Net revenues was driven by higher volumes, improved pricing, the favorable impact from acquisitions, net of divestitures and favorable foreign currency exchange rate movements. Pricing includes increases or decreases of price, including discounts, surcharges and/or other sales deductions, on our existing products and services. Volume includes increases or decreases of revenue due to changes in unit volume of existing products and services, as well as new products and services. Operating Income/Margin Operating income for the three months ended June 30, 2026, increased $35.0 million compared to the same period in 2025. Operating margin, which we define as Operating income as a percentage of total Net revenues, for the three months ended June 30, 2026, increased to 22.1% from 21.5% for the same period in 2025, due to the following: In millions Operating Income Operating Margin June 30, 2025 $ 219.7 21.5 % Pricing and productivity in excess of inflation and investment spending 14.1 0.6 % Volume / product mix 14.7 0.6 % Currency exchange rates (0.8) (0.2) % Acquisitions / divestitures 8.8 (0.2) % Acquisition / integration / restructuring expenses (1.8) (0.2) % June 30, 2026 $ 254.7 22.1 % The increase in Operating income was driven by favorable volume/product mix, pricing and productivity improvements in excess of inflation and investment spending and the favorable impact from acquisitions/divestitures. These increases were partially offset by higher acquisition, integration and restructuring expenses and unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency. The increase in Operating margin was driven by favorable volume/product mix and pricing and productivity improvements in excess of inflation and investment spending. These increases were partially offset by higher acquisition, integration and 18 Table of Contents restructuring expenses, unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency and the unfavorable impact on operating margin from acquisitions, net of divestitures. Pricing and productivity in excess of inflation and investment spending includes the impact to both Operating income and Operating margin from pricing, as defined above, in addition to productivity, inflation and investment spending. Productivity represents improvements in unit costs of materials, cost reductions related to improvements to our manufacturing design and processes and reductions in selling and administrative expenses due to productivity projects. Inflation includes both unit costs for the current period compared to the average actual cost for the prior period, multiplied by current year volumes, and current period costs of ongoing selling and administrative functions compared to the same ongoing expenses in the prior period. Expenses related to increased head count for strategic initiatives, new facilities or other significant spending for strategic initiatives or new product and channel development, are captured in investment spending. Volume/product mix represents the impact to both Operating income and Operating margin due to increases or decreases of revenue due to changes in unit volume, including new products and services, including the effect of changes in the mix of products and services sold on Cost of goods sold. Interest Expense Interest expense for the three months ended June 30, 2026, increased $0.2 million compared with the same period in 2025, primarily due to higher average outstanding indebtedness partially offset by lower weighted-average interest rates. Other Expense (Income), net The components of Other expense (income), net for the three months ended June 30 were as follows: In millions 2026 2025 Interest income $ (1.6) $ (3.8) Foreign currency exchange loss 0.7 0.5 Net periodic pension and postretirement benefit cost, less service cost 3.9 0.1 Other income (1.0) (2.1) Other expense (income), net $ 2.0 $ (5.3) Net periodic pension and postretirement benefit cost, less service cost for the three months ended June 30, 2026 includes a one-time $3.7 million settlement charge related to a U.S. defined benefit pension plan. Provision for Income Taxes The effective income tax rates for the three months ended June 30, 2026 and 2025, were 19.0% and 20.3%, respectively. The decrease in the effective income tax rate compared to 2025 is primarily due to unfavorable discrete charges in the prior year and favorable discrete adjustments in the current year. Results of Operations – Six months ended June 30, 2026 In millions, except per share amounts 2026 % of revenues 2025 % of revenues Net revenues $ 2,185.1 $ 1,963.9 Cost of goods sold 1,213.1 55.5 % 1,074.9 54.7 % Selling and administrative expenses 522.0 23.9 % 472.9 24.1 % Operating income 450.0 20.6 % 416.1 21.2 % Interest expense 49.0 49.3 Other expense (income), net 1.6 (8.8) Earnings before income taxes 399.4 375.6 Provision for income taxes 76.7 67.7 Net earnings $ 322.7 $ 307.9 Diluted net earnings per ordinary share: $ 3.74 $ 3.56 The discussions that follow describe the significant factors contributing to the changes in our results of operations for the periods presented and form the basis used by management to evaluate the financial performance of the business. 19 Table of Contents Net Revenues Net revenues for the six months ended June 30, 2026, increased by 11.3%, or $221.2 million, compared with the same period in 2025, due to the following: Pricing 4.0 % Volume 0.8 % Acquisitions / divestitures 5.0 % Currency exchange rates 1.5 % Total 11.3 % The increase in Net revenues was driven by improved pricing, higher volumes, the favorable impact from acquisitions, net of divestitures and favorable foreign currency exchange rate movements. Operating Income/Margin Operating income for the six months ended June 30, 2026, increased $33.9 million compared to the same period in 2025. Operating margin, which we define as Operating income as a percentage of total Net revenues, for the six months ended June 30, 2026, decreased to 20.6% from 21.2% for the same period in 2025, due to the following: In millions Operating Income Operating Margin June 30, 2025 $ 416.1 21.2 % Pricing and productivity in excess of inflation and investment spending 22.4 0.3 % Volume / product mix 4.0 — % Currency exchange rates (0.2) (0.3) % Acquisitions / divestitures 16.2 (0.2) % Acquisition / integration / restructuring expenses (8.5) (0.4) % June 30, 2026 $ 450.0 20.6 % The increase in Operating income was driven by pricing and productivity improvements in excess of inflation and investment spending, the favorable impact from acquisitions/divestitures and favorable volume/product mix. These increases were partially offset by higher acquisition, integration and restructuring expenses and unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency. The decrease in Operating margin was driven by higher acquisition, integration and restructuring expenses, unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency and the unfavorable impact on operating margin from acquisitions, net of divestitures. These decreases are partially offset by pricing and productivity improvements in excess of inflation and investment spending. Interest Expense Interest expense for the six months ended June 30, 2026, decreased $0.3 million compared with the same period in 2025, primarily due to a lower weighted-average interest rate on our outstanding indebtedness. Other Expense (Income), net The components of Other expense (income), net for the six months ended June 30 were as follows: In millions 2026 2025 Interest income $ (2.9) $ (7.8) Foreign currency exchange loss 1.5 1.5 Net periodic pension and postretirement benefit cost, less service cost 4.1 0.1 Other income (1.1) (2.6) Other expense (income), net $ 1.6 $ (8.8) Net periodic pension and postretirement benefit cost, less service cost for the six months ended June 30, 2026 includes a one-time $3.7 million settlement charge related to a U.S. defined benefit pension plan. 20 Table of Contents Provision for Income Taxes The effective income tax rates for the six months ended June 30, 2026 and 2025, were 19.2% and 18.0%, respectively. The increase in the effective income tax rate compared to 2025 is primarily due to unfavorable year over year changes in the amounts recognized for uncertain tax positions and unfavorable mix of income earned in higher tax rate jurisdictions. Review of Business Segments We operate in and report financial results for two segments: Allegion Americas and Allegion International. These segments represent the level at which our chief operating decision maker reviews our financial performance and makes operating decisions. Segment operating income is the measure of profit and loss that our chief operating decision maker uses to evaluate the financial performance of the business and as the basis for resource allocation, performance reviews and compensation. For these reasons, we believe that Segment operating income represents the most relevant measure of Segment profit and loss. Our chief operating decision maker may exclude certain charges or gains, such as corporate charges and other special charges, to arrive at a Segment operating income that is a more meaningful measure of profit and loss upon which to base our operating decisions. We define Segment operating margin as Segment operating income as a percentage of the segment’s Net revenues. The segment discussions that follow describe the significant factors contributing to the changes in results for each segment included in Net earnings. Segment Results of Operations - For the three and six months ended June 30: Three months ended Six months ended In millions 2026 2025 % Change 2026 2025 % Change Net revenues Allegion Americas $ 918.6 $ 821.5 11.8 % $ 1,728.5 $ 1,579.3 9.4 % Allegion International 232.9 200.5 16.2 % 456.6 384.6 18.7 % Total $ 1,151.5 $ 1,022.0 $ 2,185.1 $ 1,963.9 Segment operating income Allegion Americas $ 266.8 $ 236.6 12.8 % $ 481.9 $ 448.0 7.6 % Allegion International 14.8 15.7 (5.7) % 23.1 27.4 (15.7) % Total $ 281.6 $ 252.3 $ 505.0 $ 475.4 Segment operating margin Allegion Americas 29.0 % 28.8 % 27.9 % 28.4 % Allegion International 6.4 % 7.8 % 5.1 % 7.1 % Allegion Americas Our Allegion Americas segment is a leading provider of security products, services and solutions throughout North America. The segment sells a broad range of products and solutions including locks, locksets, key systems, door controls and door control systems, exit devices, doors, glass and door systems, accessories, electronic security products, access control systems and software and service solutions to customers in institutional, commercial and residential facilities, including the education, healthcare, government, hospitality, retail, commercial office and single and multi-family residential markets. This segment’s primary brands are LCN, Schlage, Von Duprin and Stanley Access Technologies, which we utilize with permission in accordance with the terms of an agreement with STANLEY Black & Decker (“STANLEY” is the property of Stanley Logistics L.L.C.). Net Revenues Net revenues for the three months ended June 30, 2026, increased by 11.8%, or $97.1 million, compared to the same period in 2025, due to the following: Pricing 4.0 % Volume 4.9 % Acquisitions 2.9 % Total 11.8 % The increase in Net revenues was driven by higher volumes, improved pricing and the favorable impact of acquisitions. 21 Table of Contents Net revenues from non-residential products for the three months ended June 30, 2026, increased by a low-double digits percent compared to the same period in the prior year. These increases were driven by higher volumes, improved pricing and revenue from acquisitions. Net revenues from residential products for the three months ended June 30, 2026, increased by a high-single digits percent compared to the same period in the prior year. These increases were primarily driven by higher volumes and improved pricing. Growth in electronic security products and solutions is a metric that is actively monitored by management and a focus of our investors. Electronic products encompass both residential and non-residential solutions and include all electrified product categories including, but not limited to, electronic and electrified locks, access control systems and electronic and electrified door controls and systems and exit devices. For the three months ended June 30, 2026, Net revenues from the sale of electronic products in the Allegion Americas segment increased by a low-teens percent compared to the same period in the prior year. We expect continued growth in our electronic products in 2026. Net revenues for the six months ended June 30, 2026, increased by 9.4%, or $149.2 million, compared to the same period in 2025, due to the following: Pricing 4.7 % Volume 2.1 % Acquisitions 2.5 % Currency exchange rates 0.1 % Total 9.4 % The increase in Net revenues was driven by improved pricing, the favorable impact of acquisitions, higher volumes and favorable foreign currency exchange rate movements. Net revenues from non-residential products for the six months ended June 30, 2026, increased by a low-double digits percent compared to the same period in the prior year. These increases were driven by improved pricing, revenue from acquisitions, higher volumes and favorable foreign currency exchange rate movements. Net revenues from residential products for the six months ended June 30, 2026, increased by a mid-single digit percent compared to the same period in the prior year. These increases were primarily driven by improved pricing and higher volumes. Net revenues from the sale of electronic products for the six months ended June 30, 2026, increased by a high-single digits percent compared to the same period in the prior year. We expect continued growth in our electronic products in 2026. Operating income/margin Segment operating income for the three months ended June 30, 2026, increased $30.2 million compared to the same period in 2025, and Segment operating margin for the three months ended June 30, 2026, increased to 29.0% from 28.8%, due to the following: In millions Operating Income Operating Margin June 30, 2025 $ 236.6 28.8 % Pricing and productivity in excess of inflation and investment spending 13.2 0.4 % Volume / product mix 16.7 0.6 % Currency exchange rates (2.3) (0.3) % Acquisitions 3.1 (0.4) % Acquisition / integration / restructuring expenses (0.5) (0.1) % June 30, 2026 $ 266.8 29.0 % The increase in Segment operating income was driven by favorable volume/product mix, pricing and productivity in excess of inflation and investment spending and the favorable impact of recent acquisitions. These increases were partially offset by unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency and higher acquisition, integration, and restructuring expenses. The increase in Segment operating margin was driven by favorable volume/product mix and pricing and productivity improvements in excess of inflation and investment spending. These increases were partially offset by the unfavorable impact on operating margin from recent acquisitions, unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency and higher acquisition, integration, and restructuring expenses. 22 Table of Contents Segment operating income for the six months ended June 30, 2026, increased $33.9 million compared to the same period in 2025, and Segment operating margin for the six months ended June 30, 2026, decreased to 27.9% from 28.4%, due to the following: In millions Operating Income Operating Margin June 30, 2025 $ 448.0 28.4 % Pricing and productivity in excess of inflation and investment spending 26.0 0.3 % Volume / product mix 10.9 0.1 % Currency exchange rates (4.1) (0.3) % Acquisitions 4.4 (0.4) % Acquisition / integration / restructuring expenses (3.3) (0.2) % June 30, 2026 $ 481.9 27.9 % The increase in Segment operating income was driven by pricing and productivity in excess of inflation and investment spending, favorable volume/product mix and the favorable impact of recent acquisitions. These increases were partially offset by unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency and higher acquisition, integration, and restructuring expenses. The decrease in Segment operating margin was driven by the unfavorable impact on operating margin from recent acquisitions, unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency and higher acquisition, integration, and restructuring expenses. These decreases were partially offset by pricing and productivity improvements in excess of inflation and investment spending and favorable volume/product mix. Allegion International Our Allegion International segment provides security products, services and solutions primarily throughout Europe, Asia and Oceania. The segment offers end-users a broad range of products, services and solutions including locks, locksets, portable locks, key systems, door controls and door control systems, exit devices, doors, electronic security products, access control systems, time and attendance and workforce productivity solutions, among other software and service solutions. This segment’s primary brands are AXA, CISA, ELATEC, Gainsborough, Interflex and SimonsVoss. Net Revenues Net revenues for the three months ended June 30, 2026, increased by 16.2%, or $32.4 million, compared to the same period in 2025, due to the following: Pricing 0.8 % Volume (2.0) % Acquisitions / divestitures 14.3 % Currency exchange rates 3.1 % Total 16.2 % The increase in Net revenues was driven by the favorable impact from acquisitions, net of divestitures, favorable foreign currency exchange rate movements and improved pricing. These increases were partially offset by lower volumes. Net revenues for the six months ended June 30, 2026, increased by 18.7%, or $72.0 million, compared to the same period in 2025, due to the following: Pricing 1.0 % Volume (4.2) % Acquisitions / divestitures 15.1 % Currency exchange rates 6.8 % Total 18.7 % The increase in Net revenues was driven by the favorable impact from acquisitions, net of divestitures, favorable foreign currency exchange rate movements and improved pricing. These increases were partially offset by lower volumes. 23 Table of Contents Operating income/margin Segment operating income for the three months ended June 30, 2026, decreased $0.9 million compared to the same period in 2025, and Segment operating margin for the three months ended June 30, 2026, decreased to 6.4% from 7.8%, due to the following: In millions Operating Income Operating Margin June 30, 2025 $ 15.7 7.8 % Inflation and investment spending in excess of pricing and productivity (2.5) (1.1) % Volume / product mix (2.0) (0.7) % Currency exchange rates 1.5 0.4 % Acquisitions / divestitures 5.7 1.5 % Acquisition / integration / restructuring expenses (3.6) (1.5) % June 30, 2026 $ 14.8 6.4 % The decrease in Segment operating income and Segment operating margin was driven by higher acquisition, integration and restructuring expenses, inflation and investment spending in excess of pricing and productivity improvements and the unfavorable impact from volume/product mix. These decreases were partially offset by the favorable impact from recent acquisitions/divestitures and the favorable impact from foreign currency exchange rate movements. Segment operating income for the six months ended June 30, 2026, decreased $4.3 million compared to the same period in 2025, and Segment operating margin for the six months ended June 30, 2026, decreased to 5.1% from 7.1%, due to the following: In millions Operating Income Operating Margin June 30, 2025 $ 27.4 7.1 % Inflation and investment spending in excess of pricing and productivity (7.0) (1.6) % Volume / product mix (6.9) (1.3) % Currency exchange rates 3.9 0.5 % Acquisitions / divestitures 11.8 1.7 % Acquisition / integration / restructuring expenses (6.1) (1.3) % June 30, 2026 $ 23.1 5.1 % The decrease in Segment operating income and Segment operating margin was driven by the unfavorable impact from inflation and investment spending in excess of pricing and productivity improvements, the unfavorable impact from volume/product mix and higher acquisition, integration and restructuring expenses. These decreases were partially offset by the favorable impact from recent acquisitions/divestitures and the favorable impact from foreign currency exchange rate movements. Liquidity and Capital Resources Liquidity Outlook, Sources and Uses Our primary source of liquidity is cash provided by operating activities. Cash provided by operating activities is used to invest in new product development and fund capital expenditures and working capital requirements. Our ability to generate cash from operating activities, our unused borrowing capacity under an unsecured revolving credit facility (the “Revolving Facility”) and our access to the capital and credit markets enable us to fund these capital needs, execute our long-term growth strategies and return value to our shareholders. Further, our business operates with strong operating cash flows, low leverage and low capital intensity, providing financial flexibility. Our short-term financing needs primarily consist of working capital requirements, restructuring initiatives, capital spending, dividend payments and principal and interest payments on our long-term debt. Long-term financing needs depend largely on potential growth opportunities, including potential acquisitions, repayment or refinancing of our long-term obligations and repurchases of our ordinary shares. Of our total outstanding indebtedness as of June 30, 2026, approximately 88% incurs fixed-rate interest and is therefore not exposed to the risk of rising variable interest rates. Based upon our operations, existing cash balances and unused borrowing capacity under the Revolving Facility, as of June 30, 2026, we expect our cash flows from operations will be sufficient to maintain a sound financial position and liquidity and to meet our current financing needs for at least the next 12 months. Further, we do not anticipate any covenant compliance challenges with any of our outstanding indebtedness for at least the next 12 months. 24 Table of Contents The following table reflects the major categories of cash flows for the six months ended June 30. For additional details, see the Condensed and Consolidated Statements of Cash Flows in the Condensed and Consolidated Financial Statements. In millions 2026 2025 Net cash provided by operating activities $ 299.7 $ 314.2 Net cash used in investing activities (113.2) (82.6) Net cash used in financing activities (217.9) (99.2) Operating Activities: Net cash provided by operating activities during the six months ended June 30, 2026, decreased $14.5 million compared to the same period in 2025, primarily due to increases in working capital partially offset by higher net earnings. Investing Activities: Net cash used in investing activities during the six months ended June 30, 2026, increased $30.6 million compared to the same period in 2025, primarily due to higher cash used for acquisitions. Financing Activities: Net cash used in financing activities during the six months ended June 30, 2026, increased $118.7 million compared to the same period in 2025, primarily due to higher repurchases of ordinary shares and lower net proceeds from debt. Capitalization Long-term debt and other borrowings consisted of the following: In millions June 30, 2026 December 31, 2025 Revolving Facility $ 240.6 $ 190.6 3.550% Senior Notes due 2027 400.0 400.0 3.500% Senior Notes due 2029 400.0 400.0 5.411% Senior Notes due 2032 600.0 600.0 5.600% Senior Notes due 2034 400.0 400.0 Other debt 0.2 0.2 Total borrowings outstanding 2,040.8 1,990.8 Discounts and debt issuance costs, net (9.7) (10.7) Total debt 2,031.1 1,980.1 Less current portion of long-term debt 0.2 0.2 Total long-term debt $ 2,030.9 $ 1,979.9 The Revolving Facility matures on May 20, 2030 and provides aggregate commitments of up to $1.0 billion, which includes up to $100.0 million for the issuance of letters of credit. As of June 30, 2026, we had outstanding borrowings of $240.6 million and letters of credit of $25.3 million. Borrowings under the Revolving Facility are due upon its maturity but may be repaid at any time without premium or penalty, and amounts repaid may be reborrowed. We pay certain fees with respect to the Revolving Facility, including an unused commitment fee on the undrawn portion of between 0.080% and 0.200% per year, depending on our credit ratings, as well as certain other fees. Outstanding borrowings under the Revolving Facility accrue interest, at our option, equal to either: (i) a Secured Overnight Financing Rate (“SOFR”) plus an applicable margin or (ii) a base rate plus the applicable margin. The applicable margin ranges from 0.875% to 1.375% depending on our credit ratings. At June 30, 2026, our outstanding borrowings under the Revolving Facility accrued interest at SOFR plus a margin of 1.125%, resulting in an interest rate of 4.753%. The Revolving Facility also contains negative and affirmative covenants and events of default that, among other things, limit or restrict our ability to enter into certain transactions. In addition, the Revolving Facility requires us to comply with a maximum leverage ratio as defined in the credit agreement. As of June 30, 2026, we were in compliance with all applicable covenants under the credit agreement. As of June 30, 2026, we also have $400.0 million outstanding of 3.550% Senior Notes due 2027 (the “3.550% Senior Notes”), $600.0 million outstanding of 5.411% Senior Notes due 2032 (the “5.411% Senior Notes”), $400.0 million outstanding of 5.600% Senior Notes due 2034 (the “5.600% Senior Notes”), and $400.0 million outstanding of 3.500% Senior Notes due 2029 (the “3.500% Senior Notes,” and all four senior notes collectively, the “Senior Notes”). The 3.550% Senior Notes and 3.500% Senior Notes both require semi-annual interest payments on April 1 and October 1 of each year and mature on October 1, 2027 and October 1, 2029, respectively. The 5.411% Senior Notes require semi-annual interest payments on January 1 and July 1 of each year and mature on July 1, 2032. The 5.600% Senior Notes require semi-annual interest payments on May 29 and November 29 of each year and mature on May 29, 2034. 25 Table of Contents Historically, the majority of our earnings were considered to be permanently reinvested in jurisdictions where we have made, and intend to continue to make, substantial investments to support the ongoing development and growth of our global operations. At June 30, 2026, we analyzed our working capital requirements and the potential tax liabilities that would be incurred if certain subsidiaries made distributions and concluded that no material changes to our historic permanent reinvestment assertions are required. Defined Benefit Plans Our investment objective in managing defined benefit plan assets is to ensure that all present and future benefit obligations are met as they come due. We seek to achieve this goal while trying to mitigate volatility in plan funded status, contributions and expense by better matching the characteristics of the plan assets to that of the plan liabilities. Global asset allocation decisions are based on a dynamic approach whereby a plan’s allocation to fixed income assets increases as the funded status increases. We monitor plan funded status, asset allocation and the impact of market conditions on our defined benefit plans regularly in addition to investment manager performance. For further details on pension plan activity, see Note 10 to the Condensed and Consolidated Financial Statements. For a further discussion of Liquidity and Capital Resources, refer to Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” contained in our Annual Report on Form 10-K for the year ended December 31, 2025. Guarantor Financial Information Allegion US Hold Co is or was, as applicable, the issuer of the 3.550% Senior Notes, 5.411% Senior Notes, and 5.600% Senior Notes and is the guarantor of the 3.500% Senior Notes. Allegion plc (the “Parent”) is or was, as applicable, the issuer of the 3.500% Senior Notes and is or was, as applicable, the guarantor of the 3.550% Senior Notes, 5.411% Senior Notes, and 5.600% Senior Notes. Allegion US Hold Co is directly or indirectly 100% owned by the Parent and each of the guarantees of Allegion US Hold Co and the Parent is full and unconditional and joint and several. The 3.550% Senior Notes, 5.411% Senior Notes, and 5.600% Senior Notes are or were, as applicable, senior unsecured obligations of Allegion US Hold Co and rank equally with all of Allegion US Hold Co’s existing and future senior unsecured and unsubordinated indebtedness. The guarantee of the 3.550% Senior Notes, 5.411% Senior Notes, and 5.600% Senior Notes is or was, as applicable, the senior unsecured obligation of the Parent and ranks equally with all of the Parent’s existing and future senior unsecured and unsubordinated indebtedness. The 3.500% Senior Notes are senior unsecured obligations of the Parent and rank equally with all of the Parent’s existing and future senior unsecured and unsubordinated indebtedness. The guarantee of the 3.500% Senior Notes is the senior unsecured obligation of Allegion US Hold Co and ranks equally with all of Allegion US Hold Co’s existing and future senior unsecured and unsubordinated indebtedness. Each guarantee is effectively subordinated to any secured indebtedness of the guarantor to the extent of the value of the assets securing such indebtedness. The Senior Notes are structurally subordinated to indebtedness and other liabilities of the subsidiaries of the guarantor, none of which guarantee the notes. The obligations of the guarantor under its guarantee are limited as necessary to prevent such guarantee from constituting a fraudulent conveyance under applicable law and, therefore, are limited to the amount that the applicable guarantor could guarantee without such guarantee constituting a fraudulent conveyance; this limitation, however, may not be effective to prevent such guarantee from constituting a fraudulent conveyance. If the guarantee was rendered voidable, it could be subordinated by a court to all other indebtedness (including guarantees and other contingent liabilities) of the applicable guarantor, and, depending on the amount of such indebtedness, the applicable guarantor’s liability on its guarantee could be reduced to zero. In such an event, the notes would be structurally subordinated to the indebtedness and other liabilities of the guarantor. For further details, terms and conditions of the Senior Notes refer to the Company’s Forms 8-K filed October 2, 2017, September 27, 2019, June 22, 2022, and May 29, 2024. 26 Table of Contents The following tables present the summarized financial information specified in Rule 1-02(bb)(1) of Regulation S-X for each issuer and guarantor. The summarized financial information has been prepared in accordance with Rule 13-01 of Regulation S-X. Selected Condensed Statement of Comprehensive Income Information Six months ended June 30, 2026 Year ended December 31, 2025 In millions Allegion plc Allegion US Hold Co Allegion plc Allegion US Hold Co Net revenues $ — $ — $ — $ — Gross profit — — — — Operating loss (3.8) (0.1) (7.6) — Equity earnings in affiliates, net of tax 349.8 233.0 711.5 483.4 Transactions with related parties and subsidiaries(a) (9.2) (45.0) (27.4) (92.1) Net earnings 322.7 172.7 643.8 362.0 (a) Transactions with related parties and subsidiaries include intercompany interest and fees. Selected Condensed Balance Sheet Information June 30, 2026 December 31, 2025 In millions Allegion plc Allegion US Hold Co Allegion plc Allegion US Hold Co Current assets: Amounts due from related parties and subsidiaries $ 0.5 $ 790.4 $ 1.2 $ 781.3 Total current assets 11.1 826.1 8.2 835.2 Noncurrent assets: Amounts due from related parties and subsidiaries — 1,297.3 — 1,299.1 Total noncurrent assets 1,792.5 1,428.2 1,792.7 1,425.7 Current liabilities: Amounts due to related parties and subsidiaries $ 342.8 $ 982.6 $ 10.8 $ 702.1 Total current liabilities 366.5 1,017.6 31.7 730.4 Noncurrent liabilities: Amounts due to related parties and subsidiaries 212.2 2,331.6 484.0 2,737.6 Total noncurrent liabilities 801.4 3,756.5 1,073.0 4,124.4 Critical Accounting Policies Management’s Discussion and Analysis of Financial Condition and Results of Operations are based upon our Condensed and Consolidated Financial Statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of financial statements in conformity with those accounting principles requires management to use judgments in making estimates and assumptions based on the relevant information available at the end of each period. These estimates and assumptions have a significant effect on reported amounts of assets and liabilities, revenue and expenses, as well as the disclosure of contingent assets and liabilities because they result primarily from the need to make estimates and assumptions on matters that are inherently uncertain. Actual results may differ from estimates. Management believes there have been no significant changes during the six months ended June 30, 2026, to the items we disclosed as our critical accounting policies in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2025. Recent Accounting Pronouncements Refer to Note 2 in our Condensed and Consolidated Financial Statements for a discussion of recently issued accounting pronouncements. 27 Table of Contents Forward-Looking Statements Certain statements in this report, other than purely historical information, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements generally are identified by the words “believe,” “aim,” “projected,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “intend,” “scheduled,” “targets,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” or the negative thereof or variations thereon or similar expressions generally intended to identify forward-looking statements. These statements are based on currently available information and our current assumptions, expectations and projections about future events. While we believe that our assumptions, expectations and projections are reasonable in view of the currently available information, you are cautioned not to place undue reliance on our forward-looking statements. Forward-looking statements speak only as of the date they are made and are not guarantees of future performance. They are subject to future events, risks and uncertainties – many of which are beyond our control – as well as potentially inaccurate assumptions, that could cause actual results to differ materially from our expectations and projections including, among other things: •ongoing macroeconomic challenges and continued economic instability; •increased prices and inflation; •volatility and uncertainty in the political, economic and regulatory environments in which we operate, including changes to trade agreements, sanctions, import and export regulations, custom duties and applicable tax regulations and interpretations, social and political unrest, instability, national and international conflict, terrorist acts and other geographical disputes and uncertainties; •the strength and stability of the institutional, commercial and residential construction and remodeling markets; •fluctuations in currency exchange rates; •potential impairment of our goodwill, indefinite-lived intangible assets and/or our long-lived assets; •instability in the U.S. and global capital and credit markets; •our ability to make scheduled debt payments or to refinance our debt obligations; •increased competition, including from technological developments; •the development, commercialization and acceptance of new products and services; •changes in customer and consumer preferences and our ability to maintain beneficial relationships with large customers; •our products or solutions failing to meet certification and specification requirements, being defective, causing property damage, bodily harm or injury, or otherwise falling short of customers’ needs and expectations; •our ability to identify and successfully complete and integrate acquisitions, including achieving their anticipated strategic and financial benefits; •business opportunities that diverge from our core business; •our ability to achieve the expected improvements or financial returns we expect from our strategic initiatives; •our ability to effectively manage and implement restructuring initiatives or other organizational changes; •global climate change or other unexpected events, including global health crises, such as epidemics, pandemics or similar widespread public health concerns; •the proper functioning of our information technology and operational technology systems, including disruption or breaches of our information systems, such as cybersecurity attacks; •the failure of our third-party vendors to provide effective support for many of the critical elements of our global information and operational technology infrastructure; •our ability to recruit and retain a highly qualified and diverse workforce; •disruptions in our global supply chain, including product manufacturing and logistical services provided by our supplier partners; •our ability to effectively manage real or perceived issues related to product quality, safety, corporate social responsibility and other reputational matters; •our ability to protect our brand reputation and trademarks; •legal judgments, fines, penalties or settlements imposed against us or our assets as a result of legal proceedings, claims and disputes; •claims of infringement of intellectual property rights by third parties; 28 Table of Contents •improper conduct by any of our employees, agents or business partners; •changes to, or changes in interpretations of, current laws and regulations; •uncertainty and inherent subjectivity related to transfer pricing regulations in the countries in which we operate; •changes in tax rates, the adoption of new tax legislation or exposure to additional tax liabilities; and •risks related to our incorporation in Ireland, including the possible effects on us of future legislation or adverse determinations by taxing authorities that could increase our tax burden. These events, risks and uncertainties are described more fully in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. There may also be other factors that have not been anticipated or that are not described in our periodic filings with the SEC, generally because we did not believe them to be significant at the time, which could cause actual results to differ materially from our projections and expectations. We do not undertake to update any forward-looking statements, except as required by applicable law.