Honeywell — Jul 23, 2026 release

Reconciliation of Cash Provided by Operating Activities to Free Cash Flow (Unaudited) (Dollars in millions)   Three Months Ended June 30, 2026 Three Months Ended June 30, 2025 Twelve Months Ended December 31, 2026(E) Honeywell Less: Separation Adjustments 1 Honeywell Technologies Honeywell Less: Separation Adjustments 1 Honeywell Technologies Honeywell Technologies Cash provided by operating activities from continuing operations $ 1,276   $ 713   $ 563   $ 1,064   $ 877   $ 187   $1.9 - $2.2 Capital expenditures (315) (128) (187) (226) (118) (108) ~(0.6) Spin-off and separation-related cost payments 260  211  49  7  5  2  ~0.4 Quantinuum 31  —  31  33  —  33  ~0.1 Free cash flow $ 1,252   $ 456   $ 878   $ 114   ~1.8 - $2.1 1  Includes the financial results of the Honeywell Aerospace business which will be reflected as discontinued operations in the third quarter. These financial results may differ from Aerospace Technologies financial information due to the perimeter of the transaction, allocation of Honeywell Technologies corporate costs, and treatment of intracompany transactions, among other items, for both current and prior reporting periods. We define free cash flow as cash provided by operating activities from continuing operations less cash for capital expenditures and excluding spin-off and separation-related cost payments, the Resideo indemnification and reimbursement agreement termination payment, the cash payment for settlement of divestiture of asbestos liabilities, the cash payment for settlement of Flexjet-related litigation matters, and cash flows attributable to Quantinuum.   We believe that free cash flow is a non-GAAP measure that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends,