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2020 ANNUAL REPORT Our Response to COVID-19

During the COVID-19 pandemic, the health and safety of our employees has always been our top priority. We continue to deliver our essential products to consumers and focus on business operations in the face of the pandemic. Those efforts include continuing to keep plants operating, employees safe, and position to win in the eventual recovery. ► CARING FOR OUR EMPLOYEES

Employee safety is our number one priority at Whirlpool Corporation, and we responded early with a Global Coronavirus Task Force that met daily to assess developments, communicate health and safety guidance, and address employee questions. We increased safety measures at all manufacturing plants and expanded flexible work policies for all employees able to work from home.

Our plants were quick to make adjustments in the face of COVID-19—in some cases within 24 hours. Through the World Class Manufacturing system, it was possible to quickly institute COVID-19 protocols. This was reinforced with a continued commitment from our people within all our plants around the globe to exercise safety protocols on a daily basis. These measures still consist of regular temperature checks, six-foot social distancing, increased routine cleaning in work and other areas, and an emphasis on individual accountability for all of our employees.

CARING FOR OUR CONSUMERS

We established plans to ensure our consumers had our trusted appliances to improve life at home with their families, knowing they depend on our home appliances more than ever to clean, cook and provide proper food and medicine storage. Service and support continued with strict health and safety processes in place, along with contactless delivery in most regions across our operations. CARING FOR OUR COMMUNITIES

Our consumers and the communities in which we work and live are at the forefront of everything we do as a company. At no time in the 109-year history of our company has this been more apparent than during the COVID-19 pandemic. Not only did we have a responsibility to continue making the appliances that help keep people’s lives running during this global crisis, but as we have done since we were founded, felt a sense of responsibility to provide aid and assistance to our local communities in any way possible.

During 2020, we continued to support organizations such as United Way® by contributing to its COVID-19 relief fund, and we stepped up our support of local food pantries and homeless shelters that saw increased needs as families around the globe found their resources spread thin. We also contributed funding and much-needed supplies such as personal protective equipment and appliances to hospitals and other health care facilities worldwide to aid them during the crisis. Our employees never stopped innovating, as we designed, engineered, built and donated thousands of Powered Air Purifying Respirators (PAPR) to health care workers on the front lines of the crisis in the U.S. and Brazil. We made face mask extenders with our 3D printers for hospitals near our manufacturing centers, and looked for new ways to use our appliances to combat the spread of the virus.

MEDICAL DEVICES DONATED APPROXIMATELY

Powered Air Purification Respirators: Whirlpool Corporation, 16,000 Dow Inc. and Reynolds Consumer Products Inc. collaborated face shields in Brazil to provide much-needed respirators. Together, we designed and built headgear and a respirator system, critical in helping A VIRTUAL TEAM ensure the safety of front-line medical workers who are often was able to go from design to in direct contact with COVID-19 patients. approved PAPR in just

Mechanical Ventilators: Whirlpool engineers based in 7 weeks Cassinetta di Biandronno, Italy developed a mechanical ventilator and PPE face shields that were donated to a local IN JUST hospital and front-line workers. 2 weeks our teams made a plastic injection mold with a production capacity of around 2,000 face shields a day IN CONSTANT PURSUIT OF Improving Life at Home

At Whirlpool Corporation, our vision has never wavered. We continue to be the world’s leading kitchen and laundry appliance company(a), in constant pursuit of improving life at home. In our 109th year of operations as a U.S.-based company, this principle continues to guide us in everything we do. That means incorporating purposeful innovation into our products while caring for our consumers and the people who live in the communities where we do business. Our commitment continues in the workplace, where we strive to increase inclusion and diversity, while growing and developing the unique talents of all our employees to meet the constantly evolving needs of our consumers around the world.

2020 Annual Report 1 Who We Are WHERE WE OPERATE

Whirlpool Corporation (NYSE: WHR) is the world’s leading kitchen and laundry appliance company(a), with approximately $19 billion in annual sales, 78,000 employees and 57 manufacturing and technology research centers in 2020. The company markets Whirlpool, KitchenAid, , Consul, Brastemp, Amana, , JennAir, Indesit and other major names in nearly every country throughout the world.

$19B in Annual Sales 5 57 Manufacturing with and Technology $1B+ Research Centers in Net Sales

Sales by Category Sales by Region Asia Other and Freezers Latin 7% 15% America 13% 31% 25% 58% 22% Cooking 29% Europe, Appliances Middle East and Africa Laundry

2 Whirlpool Corporation A MESSAGE FROM MARC BITZER Chairman and Chief Executive Officer

2020 Chairman’s Letter

2020 was a year like none before. Starting with the unfolding of events in January, the pandemic has kept a firm grip on our world and our company. Many of our global operations have been at the epicenter of the pandemic, be it in or in our northern Italy manufacturing facilities.

An unforeseen crisis of this magnitude does not come with a “leadership manual” and is a test of the character of an organization. I am tremendously proud of how our leaders and colleagues throughout the world rose to the occasion and am particularly proud that we stayed true to our roots and committed to serving all our stakeholders.

Always paramount is our employees’ health and safety. We had many colleagues working tirelessly to turn large-scale operations into “COVID- safe” operations in a matter of days. We had our procurement teams scouting personal protective equipment for our employees when it was in short supply. Practically overnight, we built an infrastructure to monitor all COVID-19 cases globally and provide health and emotional support for all our people.

2020 Annual Report 3 Equally important was our commitment tremendous strides in delivering on to serve our consumers during the our long-term value creation targets many lockdowns. Despite all the with an ongoing EBIT margin(b) of 9.1% challenges, we did not have significant (against our long-term target of 10%) factory shutdowns and were able to and a free cash flow(b) of $1.2 billion provide essential products to our (in line with our long-term target). consumers even during the peak of Despite the operational intensity with the pandemic. Our service engineers which we had to steer the business, went well beyond the call of duty and we kept our focus on our long-term, visited consumers' homes to repair globally aligned strategic imperatives. and service our products.

► Deliver product leadership. We also stepped up in serving our With the changing competitive local communities. We procured landscape it is more important and donated millions of masks, than ever to lead the market gowns, sanitizers and other critical with innovative, leading-edge material to our local hospitals and designed products. The launch front-line workers when they were of our new global dishwashing not able to procure these materials platform, which ultimately will themselves. We supported local be produced in three of our organizations providing vital services global facilities (Findlay, USA, to the most vulnerable in society, Radomsko, Poland, and Hefei, such as food banks, shelters and China), is a great example of true school meal programs. product leadership. The pandemic easily could have ► Re-define what product is. Even had devastating impacts on us from though the adoption rate of a financial perspective. Instead, IoT-based products is still low, what could have been a setback for we are committed to being at us turned into the best year ever. the forefront of this development COVID-related demand tailwinds, and leading the industry with in particular during the second half consumer-relevant product and of 2020 helped, but drove only a service solutions. The launch of fraction of our outstanding financial our Swash detergent, for example, results. Without a doubt, the early coupled with the unique multi- and decisive actions we took on dosing feature in select washers the go-to-market and cost sides and our portfolio of IoT apps is a made all the difference. Many of very encouraging innovation with these decisions were difficult and true customer value. painful, yet necessary and impactful.

Achieving an all-time record of ► Winning the digital consumer ongoing earnings per share of journey. The advent of digital (b) $18.55 is certainly a remarkable technologies has fundamentally accomplishment—and this makes changed both the consumer pre- the third consecutive year of all-time buy process as well as the actual (b) record earnings . We also made purchase process. 4 Whirlpool Corporation SPOT ON NEWSWEEK’S 2021 LIST OF AMERICA'S MOST RESPONSIBLE COMPANIES No. 7 through frameworks such as GRI, SASB and TCFD(d). As outlined in detail in our 2020 Sustainability Report, The pandemic has been a ► Rose to the No. 7 spot on Whirlpool is uniquely positioned to significant accelerator in this Newsweek’s 2021 list of America's both aid the energy transition and space, and we have been hugely Most Responsible Companies deliver compelling innovation with successful in capitalizing on meaningful societal impact. ► Achieved a low risk score of 18.0 these trends—with our direct- on Sustainalytics ESG Risk Rating OUTLOOK 2021 to-consumer business rapidly It is increasingly clear that the approaching $1 billion in sales. ► Improved our S&P Global ESG pandemic won’t be over anytime soon Score to 63 and were named to ► Reinvent our value chain. World and that we might have to cope with the 2020 Dow Jones Sustainability Class Manufacturing, digital and the related challenges for some time Indices (DJSI) North America Industry 4.0 technologies in our to come. Having said that, we are very Index for the 14th time in the last factories allow us to make a step encouraged by the strong momentum 15 years change in sustained cost and we have been building in our business quality competitiveness. We are ► Awarded a perfect 100 on over the past quarters and years. We particularly pleased with our the are equally confident in the strong progress in creating best-in-class Foundation's (HRC) 2021 consumer demand trends throughout home delivery networks and in Corporate Equality Index for the world—there is no doubt that driving competitive advantage in the 18th year in a row this pandemic has led consumers to our consumer service platforms. fundamentally reorient toward house We will continue to execute on and home or what we call “investing In my letter to you last year, I laid out our ESG initiatives and address in nesting.” Our company's vision and our longstanding commitment to ESG challenges such as climate change purpose of “improving life at home” initiatives which date back to 1969 and human capital management. couldn’t be more fitting! (and probably even longer). This year We’ve set targets approved by the we made significant progress toward Science-Based Targets initiative (SBTi) THANK YOU our ESG goals, and we are very for our emissions in both our plants Your trust in Whirlpool Corporation proud of the external recognition we and our products in use and will allows our 78,000 employees to received throughout the year: continue to enhance disclosure on improve life at home for families topics relevant to our stakeholders around the world. Thank you for your continued support, and we are looking forward to a very successful 2021.

Sincerely,

MARC BITZER Chairman of the Board and Chief Executive Officer

2020 Annual Report 5 Unique Structural Position

Whirlpool Corporation is committed to delivering significant, long-term value to both our consumers and our shareholders. For consumers, we deliver value through innovative, high-quality products and services that improve life at home. For our shareholders, we remain committed to our four fundamental pillars—maintain our global leading scale, have the best brand portfolio, advance our track record of innovation and hold the best cost position in the industry.

UNIQUE STRUCTURAL POSITION

► Global Leading Scale ► Accelerating Our Pace of Innovation ► Best-Cost Position ► Best Brand Portfolio

6 Whirlpool Corporation GLOBAL LEADING SCALE

We hold the number one share position in six of our ten largest countries by revenue(e).

#1 #2 NORTH AMERICA #2 WESTERN-BASED COMPANY IN ASIA EUROPE, MIDDLE EAST AND AFRICA #1 VISION, MISSION, VALUES LATIN AMERICA

Our Vision Be the best kitchen and laundry company, in constant pursuit of improving life at home BEST-COST POSITION Our Mission Leading scale combined with advanced productivity Earn trust and create demand for tools, aggressive indirect spending discipline and product our brands in a digital world architecture modularization has provided us with the ability Our Values to produce efficiently and cost-effectively in our regions. Our Integrity, Respect, Inclusion & unique global position empowers Whirlpool Corporation to Diversity, One Whirlpool, deliver long-term results by producing and marketing the Spirit of Winning right products at the right time throughout the world.

STRATEGIC IMPERATIVES We have a proven track record of consistently driving cost and complexity out of our business. In 2020, we successfully 1. Deliver Product Leadership executed and delivered our $500M+ cost takeout program, 2. Redefine What Product Is offsetting the impact of COVID-19 and structurally improving 3. Win the Digital Consumer Journey the company's margin profile. 4. Reinvent Our Value Chain

LONG-TERM GOALS

~ 10% EBIT 6%+ FCF ~3% 12-14% (Ongoing Earnings Before (Free Cash Flow as Annual Organic Return on Interest and Tax) % of Net Sales) Net Sales Growth Invested Capital

2020 Annual Report 7 Accelerated Pace of Innovation

Whirlpool Corporation has been no stranger to leading-edge innovation, state of the art product development and a long list of industry-firsts. This tradition continued with the introduction of our liquid laundry detergent, Swash.

Leveraging over 100 years of laundry expertise and incorporating both the art and science of cleaning, this ultra-concentrated formula delivers an end-to-end laundry experience for consumers, redefines product and will play a key role in our digital transformation journey.

SWASH DETERGENT INDUSTRY DISRUPTOR END-TO-END LAUNDRY ► Intercepts consumer at EXPERIENCE VISION first point of appliance use and increases number of touchpoints we have with consumers ► Drives incremental revenue stream—the laundry detergent category is a $14 billion and growing industry with high E-COMMERCE INTEGRATION margin potential Redefines product with ► Daily consumables increase ►  touchpoints and close loyalty loop consumers and shareholders ► App keeps customer within our direct- to-consumer business longer term ► Automatic replenishment when supplies are low ► Detergent is highest Consumer Packaged Goods (CPG) category shifting to online purchases

SMART WAY TO WASH ► Digitally integrated with Whirlpool and Maytag laundry EASE AND PRECISION CLEANING ► Do more with less ► Precision Pour Cap dispenses the ► Based on consumer insight; detergent for you; only pours what removes guesswork you need ► Up to 83 loads/bottle ► 8x concentration saves laundry room space

8 Whirlpool Corporation OUR $1B+ brands include Whirlpool, KitchenAid, Maytag, Indesit, Best Brand Portfolio *

*

2020 Annual Report 9 OUR GLOBAL POSITION Q&A

North Latin America America

JOE LIOTINE JOÃO BREGA EVP and President EVP and President Whirlpool North America Whirlpool Latin America

Q: How were you able to drive significant margin Q: What has driven the extraordinary growth rates expansion in North America, despite the impact in LAR and now, double-digit margins in the of COVID-19? second half of 2020?

A: 2020 results represent the third consecutive A: We delivered organic sales(b) growth of year of margin expansion for the North America approximately 23% in 2020. We leveraged region. We delivered record EBIT margin of nearly our leading brands to capitalize on industry 16% through the execution of our cost takeout demand growth in Brazil and benefited from the program and disciplined execution of our go-to- expansion of our direct-to-consumer business. market approach. Additionally, strong cost takeout actions and positive price/mix helped offset significant What is your goal for North America in 2021? Q:  currency devaluation in Brazil and Argentina.

A: Despite COVID-related supply challenges Our 2020 performance serves as a proof point continuing into 2021, we expect to deliver of the viability of our long-term financial goals. sustainable, profitable growth in the region. Q: How do you plan to continue to drive growth We expect to capture demand from structurally in 2021? improving consumer trends, while leveraging our fundamentally improved cost position and A: We expect solid top-line growth driven by disciplined execution of our go-to-market strategy continued demand strength in Brazil and to drive EBIT margins of 15%—well above our sustained growth in our direct-to-consumer long term financial goal for the region of 13%+. business. We expect to deliver strong EBIT margins of 7%+ as cost takeout and price/mix actions offset continued currency headwinds.

10 Whirlpool Corporation EMEA ASIA

GILLES MOREL SAM WU EVP and President EVP and President Whirlpool EMEA Whirlpool Asia

Q: What were the key drivers of returning EMEA Q: What insights did you learn early on in the back to profitability? pandemic that helped to prepare the other regions for the impact of COVID-19? A: We are very pleased to have returned the region to profitability this year, overcoming significant A: From the onset, our primary goal was to challenges along the way. We executed on our ensure the safety of our employees, while strategic initiatives, delivering top-line growth continuing to manufacture essential products and share gains in key countries, and continued for our consumers. Our learnings related to to drive structural cost improvements in our the implementation of safety protocols and business. procurement of personal protective equipment helped us to be one of the first companies to How do you ensure the momentum from Q:  restart production in China. We then leveraged 2020 carries into 2021? these learnings to support our essential

A: We will continue to execute on our strategic manufacturing operations around the globe. initiatives, focused on driving share gains in Q: What are the top priorities for the region as key countries and reducing our cost footprint. we begin 2021? Additionally, we expect to make strong progress in our premium freestanding and built-in A: In India, we are focused on continuing to drive business through the continued launch of share gains in a growing demand environment. In award-winning and innovative products. China, we are pleased with the Whirlpool brand We expect this to result in EBIT margins of share gains made in 2020 and look forward to 2.5%+ in 2021, a year-over-year expansion of sustaining that momentum in 2021. Overall, approximately 250 basis points. we expect to drive strong top-line growth and expand margins to 2%+.

2020 Annual Report 11 OUR At Whirlpool Corporation, we don’t Brands and just build products. We create rich Products consumer experiences.

This is done through our strong portfolio of brands operating around the globe, which have helped us to establish our reputation as the world’s leading kitchen and laundry appliance company.

As experts in our industry, we are not only in constant pursuit of improving life at home, we are also continually innovating both our products and processes, from the design and testing phase all the way through manufacturing. We do this by using targeted research, sophisticated data and our vast knowledge of consumer preferences and behaviors, combined with employees who are second to none.

2020 proved to be challenging on many levels, but we were still able to provide winning results with breakthrough new products, such as our revolutionary third rack platform, high-capacity, smart, 4-door refrigerators, and enhancements to the app that now include an integrated smart thermometer.

12 Whirlpool Corporation Whirlpool Front-Load Washing Machines received the highest rank for customer satisfaction in the J.D. Power 2020 Laundry Appliances Satisfaction Study(f).

2020 Annual Report 13 OUR Operations

Our global teams in Planning, Sourcing, Production, Transportation, Warehousing and Delivery demonstrated agility and resilience. They worked proactively under extreme circumstances to mitigate multiple unprecedented stressors on our manufacturing and supply chain operations not only due to the pandemic, but also multiple natural disasters around the globe.

We were able to leverage the tools and methodologies of World Class Manufacturing to solve problems, increase productivity and improve stability—all while prioritizing employee health and safety during this critical time.

Cross-functional teams from throughout the Integrated Supply Chain remained agile, sharing best practices with their global colleagues to continuously improve and evolve in response to unprecedented events in every region.

EMPLOYEE HEALTH & SAFETY 0.23 Lost-time Incident Rate

14 Whirlpool Corporation 73% of Whirlpool Corporation Manufacturing sites were ISO 9001-2015 Certified in 2020 Our manufacturing and distribution network will continue to increase its resiliency through the use of advanced data analytics, innovative applications and cutting-edge technologies. We are confident our ambitious vision will enhance business continuity and support our number one GHG EMISSIONS priority—the health and safety of our employees. REDUCTION 20% SCOPES 1 & 2 emissions reduction in the last four years

2020 Annual Report 15 OUR Whirlpool Corporation has a history of prioritizing issues such as gender and racial equality among our employees. For the People past 18 years, we have achieved a perfect 100 score on the Corporate Equality Index, marking nearly two decades of commitment to inclusion in the workplace.

This broad organizational commitment was again demonstrated in 2020 with extensive participation in our second annual Global Inclusion Week. Additionally, our employee resource groups continue to raise awareness for an inclusive culture, giving voice to eight under-represented groups in North America; two in our EMEA 2020 Diversity region; four in the Latin America region; and one in Asia. Best Practices Inclusion Index We have a long tradition of measuring employee engagement through our annual employee engagement survey. In 2020, we migrated to a new survey platform in order to gather employee feedback more often, and utilized the platform for a global well-being pulse survey strategy in response to COVID-19. We are committed to continued pulse surveys with coverage of broader engagement and well-being topics.

KEY INITIATIVES TO ADVANCE INCLUSION AND DIVERSITY FOURTH STRAIGHT YEAR NAMED ► Chairman and CEO Marc Bitzer is a founding member of OneTen, a coalition Best Place to Work for of leading executives with the mission to train, hire and advance one million People with Disabilities Black Americans over the next 10 years into family-sustaining jobs with opportunities for advancement.

Employee photos without masks taken ► In 2020, we announced a multi-year action plan in the U.S. to drive before COVID-19 pandemic sustainable, positive impact for all current and future Black colleagues and the local community—which will ultimately help all underrepresented groups within the company.NAMED TO

16 Whirlpool Corporation OUR Communities

Since our inception, Whirlpool Corporation has been committed to maintaining strong, lasting connections in the communities in which we do business.

Most of our operations are located in small towns, and we embrace our responsibility to support these communities. We utilize a global collective impact model that centers around improving life at home. Accordingly, our giving priorities focus on the areas of house and home as important levers to create thriving communities.

HOUSE. Our House initiatives focus on ensuring everyone can have a place to live that is comfortable and nurturing; a place where families can make healthy choices to build their best life.

HOME. Our Home initiatives focus on developing resilient, vibrant communities through education and community development. We help improve life at home in our communities with the added benefit that our employees have a great place to live.

In addition to supporting our ongoing commitments to multiple causes, we deployed teams of employees to focus on supporting the immediate community needs as a result of COVID-19. Our company and employees were eager to help in every way possible, from building health care facilities, contributing to COVID-19 research and procuring medical supplies to providing appliances for shelters, health care facilities and other organizations that care for the elderly and disadvantaged.

While COVID-19 meant we had to pivot from face-to-face activities to virtual programs, we stayed true to our local engagement efforts to ensure every Whirlpool Corporation site across the globe participated through our annual United Way campaign in the U.S. and other volunteer opportunities globally. Many of our employees also serve on local nonprofit boards and volunteer on committees that helped address COVID-19 issues in their communities.

2020 Annual Report 17 OUR Environmental Sustainability At Whirlpool Corporation, our environmental sustainability approach drives at the heart of addressing the major challenges our planet and our consumers face. With climate change expected to impact many aspects of our lives for years to come, we take our responsibility seriously.

The idea of contextual sustainability is at the center of our efforts to drive areas of sustainability that focus on our most important priorities. These focus areas include: An affordable ► Designing for the Environment TWIN-TUB WASHER ► Zero Impact Operations developed for India ► Product Efficiency and Innovation

DESIGNING FOR THE ENVIRONMENT

We work hard to address plastic waste and eliminate hazardous materials in our products and packaging by creating demand for recycled materials, developing new alternatives and creating value from our products throughout and at the end of their useful life. We have set voluntary commitments with internal targets on recycled content, sustainable packaging and phaseouts

DISHWASHERS of Expanded Polystyrene (EPS), Polyvinyl chloride (PVC) and that use approximately three gallons of water are Substances of Very High Concern (SVHC). This full life cycle thinking and our innovation will together create better and 3 to 4 times more sustainable products. more carbon- and water-efficient than conventional handwashing(g)

ZERO IMPACT OPERATIONS

Our approved science-based targets represent our commitment to meet and exceed the well below 2 degree Celsius target prescribed by the Paris Climate Agreement and drive significant emissions reductions across Whirlpool Corporation’s supply chain. In 2020, we invested in renewable energy through a Virtual Power Purchase Agreement (VPPA), expected to cover 50% of our Scope 2 electricity emissions in the U.S. It will help TRUE VENTLESS reduce our overall global carbon footprint in operations by nearly 15% HEAT PUMP DRYERS starting in 2021. We also made on-site solar installations with new with the highest efficiency rating in EMEA capacity in India and procured utility renewable energy in .

18 Whirlpool Corporation PRODUCT EFFICIENCY PRODUCT AT THE CORE AND INNOVATION A Whirlpool Dishwasher We continue to make investments in both the Our new global platform approach incorporates efficiency and innovation of our products to Environmental, Social and Governance (ESG) improve lives at home and in our communities. principles and goals for true holistic impact. We improved our Greenhouse Gas Emissions Management Systems (GEMS) which was launched in 2018 to monitor our global emissions footprint for products in use. We are currently on track to achieve our emissions reduction targets and will continue to drive Environmental Social energy efficiency in our products across SAVES all pricing levels. We are also investing in innovations that automate water levels, utilize ZERO Manufactured at gold level (UL2799) 30 cold water settings as default, and auto dose Zero Waste to Landfill plants. minutes of time per cycle vs. detergents to further lower our environmental handwashing thereby freeing over 100 hours(h) per year for families. impacts and save consumers time and money. These innovations and engagement with our 15% consumers have the ability to drive significant Renewable electricity OUR LARGEST CAPACITY gains in the emissions of our products in use to from our onsite wind farm at our dishwasher plant in Findlay, Ohio. exceed our 2030 goals, while providing savings 3rd Rack help you make more on consumer utility bills. room when you need it(i). 70% 241,266 Reduction in GHG emissions achieved 241,266 by dishwashers during their use phase 195,274 compared to manual handwashing(h). 195,274 178,859 Governance 178,859 182,097 Holistic innovation using Design 182,097 3 to 4 times for Environment principles in 191,234 More water-efficient vs. handwashing our global platforms connecting 191,234 with most of our dishwashers saving product sustainability directly with over 2,500 gallons a year(h). business goals.

Responsible sourcing with supplier Learn more audits and meeting our aggressive about our standards on restricted materials. goals and commitments in our 2020 Product safety process with industry-leading best practices and Sustainability benchmarked by other companies Report. to improve their own programs.

2020 Annual Report 19 WHIRLPOOL CORPORATION Environmental, Social and Governance (ESG) Scorecard

Environmental Our drive to create a sustainable planet and a path to net-zero

GHG EMISSIONS IN PLANTS GHG EMISSIONS IN PRODUCTS ZERO WASTE

1,000 80 71% sites achieved Zero Waste to Landfill Gold or Platinum 20% 15% status in 2020(j) 0 SCOPES 1 & 2 0 SCOPE 3, Category 11 emissions reduction emissions reduction in (metric tons of CO2eq (metric tons of CO2eq in thousands) in the last four years in millions) the last four years

Social Our pursuit to improve life in house and home

WORKPLACE SAFETY WORKPLACE DIVERSITY LOCAL COMMUNITIES

HABITAT FOR HUMANITY Females by Level 2019 2020 ZERO donated approximately work-related fatalities Executive Committee 25.0% 25.0% in 2020 207,000 Director and Above 25.0% 25.7% ranges and refrigerators in the U.S. and Canada Senior Manager and Below 18% UNITED WAY reduction in White Collar 45.8% 46.8% more than Blue Collar 37.5% 38.1% serious incidents 49,000 people assisted with basic needs

Governance Our steadfast commitment to sound corporate governance and ethics

SUPPLIER CODE CERTIFICATIONS BOARD DIVERSITY OF CONDUCT (Independent Directors) 171 73% 4 | 33% Audits completed in 2020 of Whirlpool Corporation Female manufacturing sites were Board Tenure 8 66% ISO 9001-2015 Certified of Independent | Directors Current or Former CEOs ENHANCED TRANSPARENCY in 2020 Applied robust frameworks to guide our 3 | 25% sustainability report disclosure including Racial/Ethnic Minorities GRI, SASB & TCFD 6 | 50% Worked Outside of the U.S. 20 Whirlpool Corporation OUR Governance

Whirlpool is committed to operating sustainably and to creating shareholder value over the long-term. We have a diverse and experienced Board and sound corporate governance structure in place to oversee this commitment.

Our Board is comprised of 13 directors from multiple industries, with skills and experiences that align with Whirlpool Corporation’s strategic priorities. Twelve of our 13 directors are non-employee directors (all except Whirlpool CEO Marc Bitzer) who meet the independence standards under the NYSE listing standards. Mr. Bitzer serves as Board Chair, and Samuel Allen serves as Presiding Director. Each of the Board’s four committees—Audit, Human Resources, Corporate Governance and Nominating, and Finance—is comprised entirely of independent directors. During 2020, our Board met six times. The Corporate Governance and Nominating Committee leads the Board’s annual self-evaluation process and regularly reviews the relevant skill sets for director candidates.

Our Board is committed to overseeing Whirlpool Corporation’s integration of environmental, social, and governance (ESG) principles throughout the Company. Senior leaders in key global functions comprise our ESG Councils. The ESG Councils establish and oversee the Company’s strategic priorities on relevant ESG issues. We have a responsibility to leave the world a better place now and for generations to come and we forge ahead as we’ve always done: doing the right thing, the right way, with integrity.

Board of Directors

Samuel R. Allen Gerri T. Elliott Harish Manwani Presiding Director, Corporate Governance Finance Committee, Corporate Governance and Nominating and Nominating Committee Chairman, Human Resources Committee Committee, Human Resources Committee Human Resources Committee Executive Vice President and Chief Sales and Senior Operating Partner, Former Chairman and Chief Executive Officer, Marketing Officer, Cisco Systems, Inc. Deere & Company Jennifer A. LaClair Patricia K. Poppe Marc R. Bitzer Audit Committee, Corporate Governance Audit Committee, Chairman and Chief Executive Officer, and Nominating Committee Corporate Governance and Whirlpool Corporation Chief Financial Officer, Ally Financial Inc. Nominating Committee Chief Executive Officer, PG&E Corporation Greg Creed John D. Liu Human Resources Committee Chairman, Finance Committee Chairman, Larry O. Spencer Finance Committee Audit Committee Corporate Governance and Nominating Former Chief Executive Officer, Managing Partner, Richmond Hill Committee, Finance Committee Yum! Brands, Inc. Investments, LLC; Chief Executive Officer, President, Armed Forces Benefit Association Essex Equity Management LLC and 5Star Life Insurance Company Gary T. DiCamillo Audit Committee, Finance Committee James M. Loree Michael D. White Partner, Eaglepoint Advisors, LLC Audit Committee, Audit Committee Chairman, Corporate Human Resources Committee Governance and Nominating Committee Diane M. Dietz President and Chief Executive Officer, Former Chairman, President and Chief Finance Committee, Stanley Black & Decker, Inc. Executive Officer, DIRECTV Human Resources Committee President and Chief Executive Officer, Rodan & Fields, LLC

2020 Annual Report 21 Awards Executive World’s Most Admired Companies 2020 America’s Most Responsible Companies Committee FORTUNE magazine Newsweek Tenth consecutive year 22º Top of Mind Marc R. Bitzer Corporate Equality Index Fenix Editora, Diversity and Inclusion Chairman and Chief Executive Officer Perfect score of 100 from the Brazil Human Rights Campaign João C. Brega EPA SmartWay® Excellence Award, Eighteenth consecutive year Executive Vice President and President, U.S. Environmental Protection Agency Whirlpool Latin America Dow Jones Sustainability Index, Sixth consecutive year North America Roberto H. Campos Global corporate sustainability index STEP Ahead Award Senior Vice President, Fourteenth time in 15 years Manufacturing Institute Global Product Organization

Readers’ Choice Sustainable Company Patriot Award Elizabeth A. Door Green Builder Department of Defense Senior Vice President, Global Strategic Sourcing The Just 100: America’s Best Highest Ranked Front-Load Corporate Citizens Washing Machines Holger Gottstein Forbes magazine J.D. Power, Whirlpool brand Senior Vice President, Strategy and Business Development EcoVadis Silver Medal Sustainability Index IF Design, 2020 EcoVadis, EMEA Whirlpool, KitchenAid, Hotpoint* and Ava A. Harter Bauknecht brands Senior Vice President and Top Employer Europe Chief Legal Officer Top Employer Institute in Red Dot Design Award six countries Best Products of the Year 2020, Joseph T. Liotine Third consecutive year Whirlpool, Bauknecht, Maytag brands Executive Vice President and President, Whirlpool North America Great Place to Work Most Trusted Brands Whirlpool Canada Brandspark International, Whirlpool, Carey L. Martin Maytag brands Senior Vice President and Chief Human Top Company for Executive Women Resources Officer Working Mother Media ACC Value Champion Association of Corporate Counsel Gilles Morel Great Employer Award Executive Vice President and President, Via Bona, Slovakia 50 Best Companies to Sell For Whirlpool Europe, Middle East, and Africa Selling Power magazine Disability Equality Index D. Jeffrey Noel 100 percent score Twice VIP Awards in Consumer Electronics Corporate Vice President, Whirlpool, Yummly, Maytag brands Communications and Public Affairs Diversity Best Practices Inclusion Index Top 15 in leading companies Prêmio Valor Inovação Brasil 2020 James W. Peters Third consecutive year Valor Inovação, Number One in Executive Vice President and Innovation in Electronics, Brazil Chief Financial Officer Best Places to Work for Disability Inclusion Disability Inclusion Index AWE Outstanding Product Award Shengpo (Samuel) Wu Fourth consecutive year Alliance for Workplace Excellence, Executive Vice President and President, Whirlpool China Whirlpool Asia

22 Whirlpool Corporation OUR Financial Position

JIM PETERS In 2020, we were impacted by a global pandemic that FUNDING THE BUSINESS EVP and brought with it economic challenges and new ways of We invested over $850 million in capital expenditures Chief Financial Officer working. At the outset of the pandemic, we outlined and R&D to maintain our best cost position in the and successfully executed our COVID-19 response industry, and support our proven track record strategy which was focused on: of providing innovative products and services to our consumers. ► Sustaining strong operating margins ► Protecting our liquidity position In 2020, we launched our connected laundry line ► Winning in the post-COVID economic recovery with consumer-relevant technology, enabling more control and ease when interacting with our This strategy guided our decisions throughout the appliances. We also launched our global dishwasher year, ensuring we stayed focused on meeting the platform, with the largest third rack dishwasher, needs of our employees, our business and our enabling families to spend more time together and consumers. The strong execution of our global teams less time cleaning up. Not only does this global resulted in record financial results, a strengthened platform benefit our consumers, but it also drives balance sheet position and the return of strong out cost and complexity in our organization. levels of cash to our shareholders through share Our Financial repurchases and a dividend increase for the eighth Strength Additionally, we increased investments in the consecutive year. digitization of our manufacturing and supply chain network, helping to drive sustained cost advantages FINANCIAL SUMMARY and strong progress toward a best-in-class home 8 As part of our COVID-19 response strategy to sustain delivery network. These investments advance our CONSECUTIVE strong margins, we implemented and delivered on structural position, while ensuring we continue to YEARS OF DIVIDEND a $500 million cost takeout program, aggressively improve the lives of our consumers both today and INCREASES targeting both discretionary and structural costs. in the future. Additionally, we optimized our go-to-market strategy to operate within a supply constrained environment MAINTAINING LIQUIDITY $0.9B and delivered strong price/mix for the year. As a Our multi-year focus on strengthening our balance INVESTED result of these actions and strong global demand, sheet and liquidity position paid strong dividends IN CAPITAL we delivered record ongoing EPS(b) of $18.55, this year. We leveraged our strong cash balance and EXPENDITURES record ongoing EBIT margin(b) of 9.1%, and record existing credit facilities to ensure we were able to AND R&D free cash flow(b) of $1.25 billion in 2020. Further, support our ongoing business and working capital our regional performance in North America and needs. Further, we benefited from an optimized Latin America was exceptional with both regions debt ladder with no bond maturities until the second delivering approximately 300 basis points of margin quarter of 2021 and with ample buffer in our financial $432M improvement. In EMEA, we successfully executed covenants. Lastly, because of our strong financial RETURNED TO our turnaround strategy resulting in positive EBIT position, we were able to make significant progress SHAREHOLDERS for the year. toward our debt leverage goal of approximately 2.0x, IN 2020 repaying $1.7 billion of our outstanding short-term Lastly, we remained committed to our capital debt, and finishing the year at 2.3x(c). allocation strategy, yet agile in our approach as the pandemic unfolded. We quickly prioritized 2.3x and ensured we had robust liquidity measures in ► GROSS DEBT TO place, while remaining committed to reducing our ONGOING EBITDA(c) debt leverage by year end and returning cash to shareholders through share repurchases and dividends.

2020 Annual Report 23 RETURNING CASH TO SHAREHOLDERS While the environment around us was constantly changing, our global pandemic, including a 2021 outlook which represents commitment to delivering strong returns for our shareholders a fourth consecutive year of record ongoing EPS. We remain did not. We raised our dividend for the eighth consecutive year committed to continuing to serve our consumers, our and repurchased $121 million of common stock, returning over employees, and our shareholders by investing in World Class $425 million to shareholders in 2020. These actions reflect the Manufacturing, innovation and progressing on our digital confidence we have in our business in both the short- and transformation journey. The progress made in 2020, along with long-term. strong, structural actions taken in years prior, provides us with confidence that we will continue to deliver strong shareholder In closing, despite the impact of COVID-19, we made sustainable value in 2021 while earning trust and creating demand for our progress toward our long-term financial targets in 2020. products and brands across the globe. We once again demonstrated the resiliency and agility of our business model, delivering record results in the midst of a

Financial Highlights FULL-YEAR 2020, 2019 AND 2018 RETURN ON INVESTED CAPITAL The reconciliation provided below compares the non-GAAP financial measure Return on Invested Capital (ROIC) with the most directly comparable GAAP financial measure, Return on Assets (ROA), for the twelve months ended December 31, 2020, December 31, 2019 and December 31, 2018. The Company selected ROIC because it represents an important measure of capital efficiency, which is considered a key driver of sustainable stockholder value creation. The Company defines ROIC as ongoing EBIT after taxes divided by total invested capital, defined as total assets less non-interest bearing current liabilities (NIBCLS). NIBCLS is defined as current liabilities less current maturities of long-term debt and notes payable. This ROIC definition may differ from other companies methods and therefore may not be comparable to those used by other companies.

Twelve Months Ended December 31, 2018 2019 2020

Net earnings (loss) available to Whirlpool ($183) $1,184 $1,081

Total assets 18,347 18,881 20,350

Return on assets (ROA) (1.0%) 6.3% 5.3%

2018 2019 2020

Ongoing earnings before interest and taxes* $1,319 $1,414 $1,768

Taxes @ 24%** 317 339 424

Ongoing EBIT after taxes $1,002 $1,075 $1,344

2018 2019 2020

Total assets $18,347 $18,881 $20,350

Current liabilities (9,678) (8,369) (8,330)

Current maturities of long-term debt $947 $559 $298

Notes payable 1,034 294 12

Total invested capital $10,650 $11,365 $12,330

2018 2019 2020

Return on invested capital (ROIC) 9.4% 9.5% 10.9%

* Please see pages 37-41 of our Annual Report on Form 10-K for a reconciliation of the non-GAAP financial measure ongoing earnings before interest and taxes, with the most directly comparable GAAP financial measure, net earnings available to Whirlpool. ** Taxes are calculated at a flat 24% tax rate to enable standard, consistent comparisons across years and remove variability of tax credits, allowances, incentives and other tax related items that can fluctuate on an annual basis

24 Whirlpool Corporation FULL-YEAR 2020 GROSS DEBT TO ONGOING EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION & AMORTIZATION RATIO The reconciliation provided below reconciles the non-GAAP financial measure ongoing EBITDA to net earnings available to Whirlpool, for the twelve months ended December 31, 2020.

Ongoing earnings before interest, taxes, Twelve Months Ended December 31, 2020 depreciation and amortization:

Net earnings (loss) available to Whirlpool $1,081

Net earnings (loss) available to noncontrolling interests (10)

Income tax expense (benefit) 384

Interest expense 189

Earnings before interest and taxes $1,644

Restructuring costs 288

Product warranty and liability expense (30)

Sale lease-back, real estate and receivable adjustments (114)

Corrective action recovery (14)

(Gain) loss on sale and disposal of businesses (7)

Ongoing earnings before interest and taxes $1,768

Depreciation and amortization 568

Ongoing earnings before interest, taxes, depreciation and amortization $2,336

The reconciliation provided below reconciles Whirlpool Corporation's Gross Debt outstanding, for the twelve months ended December 31, 2020.

Gross debt outstanding: Twelve Months Ended December 31, 2020

Long-term debt $5,059

Current maturities of long-term debt 298

Notes payable 12

Gross debt outstanding $5,369

The reconciliation provided below calculates Whirlpool Corporation's Gross Debt to ongoing EBITDA ratio, for the twelve months ended December 31, 2020. Gross debt to EBITDA ratio: Twelve Months Ended December 31, 2020

Gross debt outstanding $5,369

Ongoing earnings before interest, taxes, depreciation and amortization $2,336

Gross debt to ongoing EBITDA ratio: 2.3

Note: Numbers may not reconcile due to rounding

For more information on the adjustments and additional reconciliations of non-GAAP measures, such as free cash flow, ongoing earnings per share and ongoing earnings before interest and taxes (EBIT), to the most directly comparable GAAP financial measures, see pages 37-41 of the 2020 Form 10-K included with this annual report, or the document titled “GAAP Reconciliations” at Investors.WhirlpoolCorp.com/financial-information/annual-reports.

2020 Annual Report 25 Performance graph The graph below compares the yearly dollar change in the cumulative total stockholder return on our common stock against the cumulative total return of Standard & Poor’s [S&P] Composite 500 Stock Index and the cumulative total return of the S&P 500 Household Durables Index for the last five fiscal years.** The graph assumes $100 was invested on December 31, 2015, in Whirlpool Corporation common stock, the S&P 500 and the S&P 500 Household Durables Index.

**Cumulative total return is measured by dividing [1] the sum of [a] the cumulative amount of the dividends for the measurement period, assuming dividend reinvestment, and [b] the difference between share price at the end and at the beginning of the measurement period by [2] the share price at the beginning of the measurement period. Total return to shareholders (Includes reinvestment of dividends) ANNUAL RETURN PERCENTAGE Twelve Months Ended December 31,

Company/Index 2016 2017 2018 2019 2020 Whirlpool Corporation 27% -5% -35% 43% 27% S&P 500 Index 12 22 -4 32 18 S&P 500 Household Durables 7 19 -34 41 20

INDEXED RETURNS Twelve Months Ended December 31, Base Period Company/Index 2015 2016 2017 2018 2019 2020 Whirlpool Corporation $ 100 $ 127 $ 121 $ 79 $ 113 $ 143 S&P 500 Index $ 100 $ 112 $ 136 $ 130 $ 171 $ 203 S&P 500 Household Durables $ 100 $ 107 $ 127 $ 84 $ 118 $ 142

Comparison of cumulative five-year total return

FOOTNOTES:

PAGES 1, 2 PAGE 18 (a) World’s leading kitchen and laundry appliance company claim is based on (g) Based on comparison of KitchenAid Model No. KDTM354ESS to most recently available publicly reported annual product sales, parts and manual handwashing among 40 study subjects using conditions and support revenues. assumptions set forth in Gabriela Y Porras et al 2020 Environ. Res. PAGE 4, 10, 20 Commun. 2 021004. (b) Please see "Non-GAAP Financial Measures" on pages 37-41 of our PAGE 19 Form 10-K for a reconciliation of this Non-GAAP measure to the (h) Based on favorable water and energy use comparison of KitchenAid equivalent GAAP measure. Model No. KDTM354ESS, which was compared to manual handwashing PAGE 4, 23 among 40 study subjects using conditions and assumptions set forth in (c) Please see Financial Highlights above for the applicable non-GAAP to Gabriela Y Porras et al 2020 Environ. Res. Commun. 2 021004. Assumes GAAP reconciliations. 215 cycles / year. PAGE 5 (i) Models WDTA80SAK, WDT750SAK, WDTA50SAK based on total (d) Global Reporting Initiative (GRI), Sustainability Accounting Standards Board usable volume. Compared to 3rd Rack models WDTA75SAH, (SASB) and Task Force on Climate-Related Financial Disclosures (TCFD). WDT970SAH, WDT975SAH. Handle styles vary by model. PAGE 7 PAGE 20 (e) Share positions based on 2020 Euromonitor data. (j) Meeting UL2799 Gold and Platinum levels, self declared. PAGE 13 PAGE 9, 22, Inside Back Cover (f) Tied with another appliance. * Whirlpool Corporation ownership of the Hotpoint brand in EMEA and Asia Pacific regions is not affiliated with the Hotpoint brand sold in the Americas.

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Whirlpool Corporation’s Annual Report The Annual Report on Form 10-K and Stock Exchanges on Form 10-K and other financial company earnings releases for each Common stock of Whirlpool Corporation information is available free of charge quarter—typically issued in April, July, (exchange symbol: WHR) is listed on the to stockholders. October and January—can be obtained New York and Chicago stock exchanges. by contacting: The financial summary information Trademarks contained in this Annual Report Roxanne Warner Amana, Bauknecht, Brastemp, Consul, should be read together with Whirlpool Senior Director, Investor Relations Hotpoint*, Indesit, JennAir, KitchenAid, Corporation’s Financial Statements and Whirlpool Corporation Maytag, Swash, Whirlpool, Yummly and related notes and “Management’s 2000 N. M-63, Mail Drop 2609 the design of the stand mixer are Discussion and Analysis” and “Forward- Benton Harbor, MI 49022-2692 trademarks of Whirlpool Corporation or Looking Statements.” This information Telephone: 269-923-2641 its wholly or majority-owned affiliates. appears in the company’s 2020 Annual Fax: 269-923-3525 Report on Form 10-K filed with the Email: [email protected] United Way, Smart Way and certain Securities and Exchange Commission, other trademarks are owned by their which is included herewith and respective companies. available on the company’s at Investors.WhirlpoolCorp.com. Whirlpool Corporation Please visit our online Annual Report at WhirlpoolCorp.com/2020Annual