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Investor Presentation 2019 Investor Day New York Stock Exchange // May 23, 2019 Whirlpool Corporation [Placeholder for Agenda Title] Investor Day ‒ May 23, 2019 OVERVIEW Welcome, Overview and Introductions M. Tunnicliff 9:00 am - 9:05 am Why Invest in Whirlpool? M. Bitzer 9:05 am - 9:10 am Our Unique Structural Position & M. Bitzer 9:10 am - 9:40 am Strategic Digital Transformation J. Liotine Regional Catalysts for Growth Regional Presidents 9:40 am - 10:20 am Capital Allocation for Superior Value Creation J. Peters 10:20 am - 10:45 am Q&A Executive Committee 10:45 am - 11:45 am Closing Remarks M. Bitzer 11:45 am - noon Box Lunches to Go All noon - 12:30 pm Whirlpool Corporation Welcome,[Placeholder Overview for Agendaand Introductions Title] Investor Day ‒ May 23, 2019 2 GLOBAL EXECUTIVE TEAM Marc Bitzer João Brega Roberto Campos Liz Door Kirsten Hewitt Chairman & Chief EVP & President, Sr VP, Global Sr VP, Global Sr VP and Chief Executive Officer Whirlpool Latin America Product Organization Strategic Sourcing Legal Officer Jim Peters Joe Liotine Carey Martin Gilles Morel Sam Wu EVP & Chief EVP & President, Sr VP & Chief Human EVP & President, Whirlpool EVP & President, Financial Officer Whirlpool North America Resources Officer Europe, Middle East & Whirlpool Asia Africa Whirlpool Corporation [PlaceholderIntroductions for Agenda Title] Investor Day ‒ May 23, 2019 3 2019 INVESTOR DAY – AGENDA 1. Why Invest in Whirlpool? 2. Our Unique Structural Position & Strategic Digital Transformation 3. Regional Catalysts for Growth 4. Capital Allocation for Superior Value Creation 5. Q&A, Closing Remarks Whirlpool Corporation [PlaceholderOverview for Agenda Title] Investor Day ‒ May 23, 2019 4 WHY INVEST IN WHIRLPOOL? (1/2) Best Kitchen and Laundry Company with a Unique Structural Position ● Global Leading Scale ● Track Record of Innovation ● Best Brand Portfolio ● Best Cost Position Regional Catalysts for Value Creation Strategic Digital Transformation ● North America: Superior margins in a healthy marketplace ● Leader in digital connected appliances and services ● Europe: Margin recovery post-Indesit integration ● Winning the digital consumer purchase journey ● Latin America: Solid growth as Brazilian demand rebounds ● Asia: Strong India growth; cost-efficient production in China ● Digitization of our value chain for productivity Superior Value Creation Whirlpool Corporation [PlaceholderWhy Invest for in AgendaWhirlpool? Title] Investor Day ‒ May 23, 2019 5 WHY INVEST IN WHIRLPOOL? (2/2) Long-Term Value Creation Goals Disciplined Capital Allocation 2018 Long-Term 2018 Long-Term * Funding the EBIT 6.3% ~10% ~3% ~3% business (Capex) Dividends 25-30% ~30% FCF ~4% 6%+ Share Repurchases $1.15B Continued ROIC 9.4% 12-14% Gross Debt Leverage 3.6x 2.0x M&A Strategic, high ROIC threshold *Ongoing EBIT Deliver Top Quartile TSR and ~10% Annual EPS Growth Whirlpool Corporation [PlaceholderWhy Invest for in AgendaWhirlpool? Title] Investor Day ‒ May 23, 2019 6 2019 INVESTOR DAY – AGENDA 1. Why Invest in Whirlpool? 2. Our Unique Structural Position & Strategic Digital Transformation 3. Regional Catalysts for Growth 4. Capital Allocation for Superior Value Creation 5. Q&A, Closing Remarks Whirlpool Corporation [PlaceholderOverview for Agenda Title] Investor Day ‒ May 23, 2019 7 OUR UNIQUE STRUCTURAL POSITION 1 2 3 4 Global Leading Best Brand Proven Track Record Best Cost Scale Portfolio of Innovation Position #1 in 7 of Our Six Brands with Launched ~100 Strong Track Record Top 10 Countries >$1B in Sales Products in 2018 of Cost Productivity Whirlpool Corporation Our Unique Structural[Placeholder Position for & Strategic Agenda Title]Digital Transformation Investor Day – May 23, 2019 8 1 UNIQUE STRUCTURAL POSITION: GLOBAL LEADING SCALE Leading Positions in the Most Attractive Marketplaces *Non-grey bar represents Whirlpool position #1 Position in 7 of Our Top 10 Countries Whirlpool Corporation Our Unique Structural[Placeholder Position for & Strategic Agenda Title]Digital Transformation Investor Day ‒ May 23, 2019 9 2 UNIQUE STRUCTURAL POSITION: BEST BRAND PORTFOLIO % of Net Sales (2018) Premium (15%) Mass (75%) Value (10%) Brand Portfolio Targets Over 90% of Consumers and Includes Six Brands with >$1B in Sales Whirlpool Corporation Our Unique Structural[Placeholder Position for & Strategic Agenda Title]Digital Transformation Investor Day ‒ May 23, 2019 10 3 UNIQUE STRUCTURAL POSITION: PROVEN TRACK RECORD OF INNOVATION 1911 1949 1961 1998 2006 2013 2018 First Electric First Side-by-Side First Self-Ventilated First Energy Efficient French-Door Built-In First Induction Dual Bulk Load and Wringer Washer Refrigerator Cooktop Top-Load Washer Refrigerator Double Oven Go Dispensing Freestanding Range Washer 1919 1957 1967 1999 2008 2015 2019 First Stand First Bottom First Countertop First Large Capacity First Top-Load Pair French-Door Built-In Smart All-In-One Mixer Mount Refrigerator Microwave Front-Load Washer with Steam Cycle Refrigerator Washer & Dryer Investing More Than $1B (R&D and Capex) in New Products Each Year Whirlpool Corporation Our Unique Structural[Placeholder Position for & Strategic Agenda Title]Digital Transformation Investor Day ‒ May 23, 2019 11 4 UNIQUE STRUCTURAL POSITION: BEST COST POSITION Scale Leading Operations Advanced Productivity Tools Number of Key Global Factories Global Production System Embarked on our global World-Class Mega Manufacturing initiative in 2017 6 Factory (>3M units) Product Architecture Large 17 Factory Step function complexity reduction (1–3M units) through architecture consolidation and modularization Mid-Sized 12 Factory Aggressive Indirect Spend Discipline (<1M units) Target of 4% Sustained Net Conversion Productivity Annually Whirlpool Corporation Our Unique Structural[Placeholder Position for & Strategic Agenda Title]Digital Transformation Investor Day ‒ May 23, 2019 12 OUR DIGITAL TRANSFORMATION CREATES TREMENDOUS OPPORTUNITIES ACROSS THE VALUE CHAIN 1 Leader in Connected Appliances and Services ● Incremental revenues from digital products and services ● Unique insights into actual consumer usage behaviors 2 Winning the Digital Consumer Journey ● Increased pre-buy consumer preference and ability to target consumers 1:1 ● Growing (higher margin) consumer direct business 3 Digitization of Our Value Chain ● Advanced data analytics and AI for productivity gains ● Real-time supply chain visibility, driving lower working capital requirement Whirlpool Corporation Our Unique Structural[Placeholder Position for & Strategic Agenda Title]Digital Transformation Investor Day – May 23, 2019 13 1 LEADING IN CONNECTED APPLIANCES - LAUNDRY New Smart Front-Load Washing Machines Play Video Whirlpool Corporation Our Unique Structural[Placeholder Position for & Strategic Agenda Title]Digital Transformation Investor Day – May 23, 2019 14 1 LEADING IN CONNECTED APPLIANCES - KITCHEN Suite Featuring Oven with Smart Countertop Oven Connected Appliances powered accessories Yummly serves as the “operating system” for the full range of Whirlpool Corp. connected appliances and enables a wide array of compelling use cases, including personalized meal discovery, guided step-by-step recipe instructions and integration with appliances to deliver perfect results every time. Whirlpool Corporation Our Unique Structural[Placeholder Position for & Strategic Agenda Title]Digital Transformation Investor Day – May 23, 2019 15 1 LEADING IN CONNECTED APPLIANCES - KITCHEN Constant Pursuit of Improving Life at Home Play Video Whirlpool Corporation Our Unique Structural[Placeholder Position for & Strategic Agenda Title]Digital Transformation Investor Day – May 23, 2019 16 1 LEADING IN CONNECTED APPLIANCES THROUGH OUR YUMMLY RECIPE APP 26M+ 10M 9M 3M Registered Email Monthly Active Visitors per Users Subscribers Unique Users Week LEADING INNOVATION DATA DRIVEN Recipe App Leader with Android, Approach to Digital Apple, Webby & CES Kitchen & Food Accolades Content 2M+ recipes 650K+ Social followers 1 of 100 Apple “Editor’s Choice” 4.8 Star Rating (iOS) Whirlpool Corporation OurOur Unique Unique Structural Structural[Placeholder Position Position for & &Strategic Agenda Global Strategic Title]Digital Transformation Imperatives Investor Day – May 23, 2019 17 1 LEADING IN CONNECTED APPLIANCES THROUGH OUR YUMMLY PRO LAUNCH Premium Talent Premium Recipes Immersive “Cooks-with” experience (“peloton style”) Richard Carla Daniel Jet Andrew Blais Hall Holzman Tila Zimmern Whirlpool Corporation Our Unique Structural[Placeholder Position for & Strategic Agenda Title]Digital Transformation Investor Day – May 23, 2019 18 1 OUR LEADERSHIP IN CONNECTED APPLIANCES IS EXTERNALLY VALIDATED (CES 2019) 15 Awards Consumer Electronics Show (CES) Top-Tier Media Mentions Home Appliance and Smart Home categories “This is better than other competitors. Perfect for Manhattan.” [regarding Whirlpool Smart Countertop Oven] – The New York Times “In my opinion, Whirlpool has the best smart home appliance news at CES.” – Digital Trends “These days, Whirlpool is more than just ovens and dishwashers. Over the years at CES, the appliance giant has proved it has some pretty serious tech chops as well.” – Engadget “I'm excited to see KitchenAid jumping into the smart home biz, and bringing its cooking prowess and customary sense of style.” – CNET Whirlpool Corporation Our Unique Structural[Placeholder Position for & Strategic Agenda Title]Digital Transformation Investor Day – May 23, 2019 19 1 ...AND WE ARE WINNING THE RACE TOWARD INSTALLED CONNECTED BASE Whirlpool Connected Products in the U.S. Cumulative # of installed
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