Honeywell To Evaluate Strategic Alternatives For Productivity Solutions And Services And Warehouse And Workflow Solutions Businesses

CHARLOTTE, N.C., July 8, 2025 – Honeywell (NASDAQ: HON) today announced plans to evaluate strategic alternatives for its Productivity Solutions and Services (“PSS”) and Warehouse and Workflow Solutions (“WWS”) businesses, which serve the transportation, warehouse and logistics markets. This enables Honeywell to further simplify its portfolio in order to accelerate value creation ahead of its planned separation into three independent, industry-leading companies, which is expected to be complete in the second half of 2026.

“Today’s announcement marks an important milestone in positioning Honeywell for success as a pure-play automation business following our planned Honeywell Aerospace separation next year,” said Vimal Kapur, Chairman and CEO of Honeywell. “With a simpler and more cohesive portfolio that serves the end markets of buildings, process and industrials, Honeywell will focus on our core areas of automation expertise, each of which is exposed to long-term secular growth drivers that position us as a powerful, global automation leader.”

PSS, with 2024 revenue of more than $1 billion, is a leading provider of mobile computers, barcode scanners, and printing solutions serving the warehouse and logistics market. WWS, which generated nearly $1 billion in revenue in 2024, is a leading provider of supply chain and warehouse automation projects, services and products – including automated sortation systems, palletizers, conveyors and robotics solutions as well as aftermarket services and software. WWS operates commercially under the brand names Intelligrated and Transnorm.

Kapur added: “Both leaders in their respective markets, PSS and WWS have deep customer and channel relationships, broad product offerings and innovative technologies that help improve efficiency, safety and productivity across the transportation, warehouse and logistics markets. We are encouraged by the recent performance of PSS and WWS and intend to seek opportunities to build on their unique strengths as we determine the best path forward that maximizes value for all our stakeholders.”

As Honeywell continues shaping its portfolio ahead of the planned separation, it has also appointed industry veteran Jim Masso to lead its process automation business. Masso will serve as President and CEO of Honeywell Process Automation, effective July 14, 2025. He brings 20 years of experience in energy services, engineering, operations and management, most recently as President & CEO of Allied Power Group. Prior to that, he held several senior leadership roles at General Electric and delivered transformative solutions across GE's energy portfolio.

Kapur concluded: “We are pleased to welcome Jim Masso to Honeywell to lead our process automation business. Having dedicated his career to leading complex, large-scale projects across the industry, he brings a deep understanding of the energy sector and an extensive background in driving customer-centric innovation that make him well-suited to lead this business into its next chapter of growth and innovation.”

Honeywell’s evaluation of strategic alternatives for its PSS and WWS businesses will run in parallel with ongoing portfolio workstreams and will not impact previously announced timelines for the separations of Solstice Advanced Materials by the end of 2025 or early 2026, and Honeywell Aerospace in the second half of 2026. There can be no assurance that pursuing strategic alternatives will result in any transaction or other outcome.

Since June 2023, Honeywell has announced a number of strategic actions to drive organic growth and simplify its portfolio, including $14 billion of accretive acquisitions: Compressor Controls Corporation, SCADAfence, the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, the LNG business from Air Products, Sundyne, Johnson Matthey's Catalyst Technologies Business and Li-ion Tamer. Honeywell also completed the sale of its Personal Protective Equipment business to Protective Industrial Products in May 2025.

Honeywell has retained Centerview Partners as the company’s financial advisor to assist in assessing strategic alternatives.

About Honeywell

Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and

Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

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