Q3 2026 Earnings Presentation

Third-Quarter 2026 Earnings Review

oration Confidential

Whirlpool Corp

Whirlpool Corporation Confidential

Tuesday, October 27, 2026

Third-Quarter 2026 Earnings Review

CHAIRMAN AND CHIEF EXECUTIVE OFFICER

EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER

EXECUTIVE PRESIDENT, NORTH AMERICA AND GLOBAL STRATEGIC SOURCING

Whirlpool Corporation Confidential

EXECUTIVE PRESIDENT, KITCHENAID SMALL APPLIANCES AND LATIN AMERICA

Whirlpool Corporation Confidential

This document contains forward-looking statements about Whirlpool Corporation and its consolidated subsidiaries ("Whirlpool") that speak only as of this date. Whirlpool disclaims any obligation to update these statements. Forward-looking statements in this document may include, but are not limited to, statements regarding future financial results, long-term value creation goals, restructuring expectations, productivity, raw material prices and related costs, supply chain, portfolio transformation expectations, India transaction expectations, housing market expectations, asset impairment, new product introduction benefits, trade and tariff benefits, litigation, ESG efforts, debt repayment and dividend expectations, share position, and the impact of the global economy and geopolitical events on our operations and financial results. Many risks, contingencies and uncertainties could cause actual results to differ materially from Whirlpool's forward-looking statements. Among these factors are: (1) intense competition in the home appliance industry, and the impact of the changing retail environment, including direct-to-consumer sales; (2) Whirlpool's ability to maintain or increase sales to significant trade customers and builders; (3) Whirlpool's ability to maintain its reputation and brand image; (4) Whirlpool's ability to achieve its business objectives and successfully manage its strategic portfolio transformation and outsourced business unit service model; (5) Whirlpool's ability to understand consumer preferences and successfully develop new products; (6) Whirlpool's ability to obtain and protect intellectual property rights; (7) acquisition, divestiture, and investment-related risks, including risks associated with our past transactions; (8) the ability of suppliers of critical parts, components and manufacturing equipment to deliver sufficient quantities to Whirlpool in a timely and cost-effective manner; (9) risks related to Whirlpool's international operations; (10) Whirlpool's ability to respond to unanticipated social, political and/or economic events, including epidemics/pandemics; (11) information technology system and cloud failures, data security breaches, data privacy compliance, network disruptions, and cybersecurity attacks; (12) product liability and product recall costs; (13) Whirlpool's ability to attract, develop and retain executives and other qualified employees; (14) the impact of labor relations; (15) fluctuations in the cost of key materials (including steel, resins, and base metals) and components and the ability of Whirlpool to offset cost increases; (16) Whirlpool's ability to manage foreign currency fluctuations; (17) impacts from goodwill, intangible asset and/or inventory impairment charges; (18) health care cost trends, regulatory changes and variations between results and estimates that could increase future funding obligations for pension and postretirement benefit plans; (19) impacts from credit rating agency downgrades; (20) litigation, tax, and legal compliance risk and costs; (21) the effects and costs of governmental investigations or related actions by third parties; (22) changes in the legal and regulatory environment including environmental, health and safety regulations, data privacy, taxes and AI; (23) the impacts of changes in foreign trade policies, including tariffs; (24) Whirlpool's ability to respond to the impact of climate change and climate change or other environmental regulation; (25) the uncertain global economy and changes in economic conditions; (26) financing and liquidity uncertainty including payment of dividends on our Mandatory Convertible Preferred Stock; (27) the dilutive effect of conversion and potential dividend payments in common stock for our Mandatory Convertible Preferred Stock; (28) the liquidation preference of our Mandatory Convertible Preferred Stock above our common stock; (29) reduced operational flexibility under our Senior Secured Second Lien Notes due 2031 and 2034; and (30) reduced operational flexibility and liquidity availability under our Asset-Based loan facility. Additional information concerning these and other factors can be found in "Risk Factors" in Item 1A of Whirlpool's 2025 Form 10-K report as updated in subsequent Form 10-Q reports. We undertake no obligation to update any forward-looking statement, and investors are advised to review disclosures in our filings with the SEC. It is not possible to foresee or identify all factors that could cause actual results to differ from expected or historic results. Therefore, investors should not consider the foregoing factors to be an exhaustive statement of all risks, uncertainties, or factors that could potentially cause actual results to differ from forward-looking statements.

This presentation includes certain non-GAAP financial measures. We supplement the reporting of our financial information determined under U.S. Generally Accepted Accounting Principles (GAAP) with certain non-GAAP financial measures, some of which we refer to as "ongoing" measures, including: earnings before interest and taxes (EBIT), EBIT margin, ongoing EBIT, ongoing EBIT margin, ongoing earnings per diluted share and ongoing EBITDA. Other non-GAAP financial measures that may be included in this presentation are free cash flow, free cash flow as a percentage of sales, adjusted effective tax rate, organic net sales, net debt leverage and return on invested capital (ROIC).

Organic net sales: Sales excluding the impact of certain acquisitions or divestitures, and foreign currency. Management believes that organic net sales provides stockholders with a clearer basis to assess our results over time, excluding the impact of exchange rate fluctuations and certain acquisitions and/or divestitures. Slide 20 excludes 2025 net sales from the divested India business and foreign currency impact. Slide(s): 7, 20

Ongoing EBIT margin: Ongoing EBIT divided by net sales. Ongoing measures exclude items that may not be indicative of, or are unrelated to, results from our ongoing operations and provide a better baseline for analyzing trends in our underlying businesses. Slide(s): 7, 8, 20, 21, 28, 29

Segment EBIT: Consolidated EBIT broken down by the Company's reportable segments and are metrics used by the chief operating decision maker in accordance with ASC

280. Consolidated EBIT also includes corporate "Other" of $(268) million and $(28) million for the third quarters of 2026 and 2025, respectively. Management believes segment EBIT provides stockholders with a clearer basis to assess our results over time for each segment. Slide(s): 10, 15, 17, 22

Ongoing earnings per diluted share: Diluted net earnings per share from continuing operations, adjusted to exclude items that may not be indicative of, or are unrelated to, results from our ongoing operations. Ongoing measures provide a better baseline for analyzing trends in our underlying businesses. Slide(s): 7, 20, 27, 30

Free cash flow: Cash provided by (used in) operating activities less capital expenditures. Management believes that free cash flow and free cash flow as a percentage of sales provide stockholders with a relevant measure of liquidity and a useful basis for assessing Whirlpool's ability to fund its activities and obligations. Slide(s): 6, 7, 20, 23, 25

Adjusted effective tax rate: Effective tax rate, excluding pre-tax income and tax effect of certain unique items. Management believes that adjusted tax rate provides stockholders with a meaningful, consistent comparison of the Company's effective tax rate, excluding the pre-tax income and tax effect of certain unique items. Slide(s): 20, 30

Whirlpool Corporation Confidential

Please refer to the supplemental information pack located in the events section of our Investor Relations website at investors.whirlpoolcorp.com for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures. Whirlpool does not provide a Non-GAAP reconciliation for its forward-looking long-term value creation goals, such as organic net sales, ongoing EBIT, free cash flow as percentage of net sales, ROIC and net debt leverage, as these long-term management goals are not annual guidance, and the reconciliation of these long-term measures would rely on market factors and certain other conditions and assumptions that are outside of the Company's control.

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PROFITABLE GROWTH

Net Sales

$3.7B

YoY Change

(8.8)%

(5.4)% organic

MARGIN EXPANSION

Ongoing EBIT Margin

2.6%

YoY Change

(1.8) pts

Free Cash Flow

$(1.1)B

FCF as % of Net Sales

(29.4)%

CASH CONVERSION

• Organic Net Sales impacted by soft industry demand in North America

• EBIT margin sequentially improved 80 basis points to 2.6% and resulted in ongoing EPS of $(0.21)

  Whirlpool Corporation Confidential

• Sequential progress on pricing and cost take out was partially offset by higher raw material, fuel and logistics costs

• Maintained strict working capital discipline, prioritizing balance sheet strength

• Free cash flow of $(1.1)B was negatively impacted by the Grupo Casas Bahia (GCB) bankruptcy reorganization

  Ongoing EBIT Margin Drivers

  (Approximate impact) Q2'26 vs Q3'25 vs Q3'26 Q3'26
  Ongoing EBIT Margin	1.8%	4.5%
  Price/Mix	+2.50	+1.00
  Net Cost*	+1.00	-0.75
  Raw Material Inflation	-0.75	-1.25
  Net Tariff Impact	-2.25	-1.25
  Marketing & Technology Investments	-0.25	+0.25
  Currency	+0.25	nm
  Transaction Impacts	+0.25	+0.25
  2026 Ongoing EBIT Margin	2.6%	2.6%

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  *Inclusive of Fixed Cost Take Out, Ongoing Cost Productivity (Including Conversion and Freight & Warehousing), Volume 8

  Leveraging and Restructuring Benefits.

  Agenda

  Third-Quarter Results

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NET SALES ($B) EBIT ($M) EBIT MARGIN

4%

-8%

Q2 2026

Q3 2026

Q3 2025

16%

-45%

Q2 2026

Q3 2026

Q3 2025

0.3pts

-2.0pts

Q2 2026

Q3 2026

Q3 2025

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U.S. Appliance Industry Pricing (vs Jan '25)

Competitor

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Average

Source: Publicly available sell-out data

Industry Pricing in the U.S. 11

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THE FIRST REFRIGERATOR WITH DISPENSABLE NUGGET ICE

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U.S. LOGISTICS

AMANA

Multi-year modernization and optimization

PERRYSBURG

Unlocking greater efficiency through vertical integration

SUPSA & RAMOS

Refrigeration production shift to leverage scale and drive cost efficiency

25% REDUCTION

In local distribution center count

CONSOLIDATION

Of regional distribution and return centers

SUSTAINED RELIABILITY

97% of customers within 100 miles of a distribution center

~$230M

annualized EBIT benefit

~$60M

annualized EBIT benefit

-1.0pts

-3.6pts

NET SALES ($B) EBIT ($M) EBIT MARGIN

-33%

-61%

-1%

7%

Q2 2026

Q3 2026

Q3 2025

Q2 2026

Q3 2026

Q3 2025

Q2 2026

Q3 2026

Q3 2025

Whirlpool Corporation Confidential

• Excluding currency, net sales increased 2.5% year-over-year driven by higher volume, partially offset by price/mix

• Temporary margin pressure driven by mix shifts due to GCB's bankruptcy reorganization (equivalent to Chapter 11 in the U.S.)

• Announced price increases of up to 10% across the region

  Driving Premium Growth in Latin America BRASTEMP

  INDUCTION COOKTOP

  WHIRLPOOL & BRASTEMP

  FRENCH DOOR REFRIGERATOR

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  SDA Global Third-Quarter Results

  NET SALES ($B) EBIT ($M) EBIT MARGIN

  42%

  -1%

  Q2 2026

  Q3 2026

  Q3 2025

  120%

  12%

  Q2 2026

  Q3 2026

  Q3 2025

  6.6pts

  2.1pts

  Q2 2026

  Q3 2026

  Q3 2025

  Whirlpool Corporation Confidential

  • Product launches and D2C channel continue to support share gains and healthy Q3 EBIT margin of 18.6%

  • October orders in the U.S. are up ~40% year-over-year due to strong sell out and shift of orders from Q3 to Q4

  • Growing our portfolio of licensed products by expanding kitchen accessories sales through D2C and introducing the KitchenAid Kids toy line

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KitchenAid SDA Innovation Supporting Growth

DESIGN SERIES LUMINAIRE STAND MIXER KITCHENAID GO® CORDLESS APPLIANCES

NOW FEATURING GRATER, SLICER, SHREDDER & VACUUM SEALER

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LONG-TERM TARGETS

(MID-CYCLE)

PROFITABLE GROWTH

MARGIN EXPANSION

CASH CONVERSION

~$16.3B

ANNUAL ORGANIC NET SALES

excludes India

~9.0%

ONGOING EARNINGS BEFORE INTEREST AND TAX, % OF NET SALES

~7.0%

FREE CASH FLOW AS % OF NET SALES

Net Sales YoY Change

Ongoing EBIT Margin

YoY Change

Free Cash Flow

FCF as % of Net Sales

2025

LIKE-FOR-LIKE

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excludes India Jan - Nov

~$14.7B

(1.4)%

~4.7%

(115)bps

~$81M

0.5%

2026 GUIDANCE

~$14.5B ~(1.5%)

2.0 - 2.2% ~(260)bps

Midpoint

~$300M

~2%